A complex flat in Nifty - Expecting a sharp move down for C wave
A flat is a 3-3-5 corrective structure . Normally it is zizzag - zigzag-impulse or ED .
But in rare cases it becomes flat - expanded flat- impulse or ED . Since flat is also a-b-c (3 wave corrective structure)
So in our structure
wave a - a simple flat
wave b - an expanded flat
wave c - expected to be sharp impulse
It also represents a time correction and normally would correct 38.2% of the previous wave and will alternate with a zig zag in a similar position.
But in rare cases it becomes flat - expanded flat- impulse or ED . Since flat is also a-b-c (3 wave corrective structure)
So in our structure
wave a - a simple flat
wave b - an expanded flat
wave c - expected to be sharp impulse
It also represents a time correction and normally would correct 38.2% of the previous wave and will alternate with a zig zag in a similar position.