The big picture for Elliott wave analysis is five-wave patterns
followed by three-wave patterns. Let’s look at the three-wave
corrections more closely to get a bead on how they differ from
one another. This excerpt from EWI’s Basic Tutorial describes
in detail what you need to know about so-called zigzag and
flat corrections to be able to recognize them on a price chart.
This
article was syndicated by Elliott Wave International and
was originally published under the headline Basic Wave Patterns: How a Zigzag Differs from a Flat.
EWI is the world’s largest market forecasting firm. Its staff
of full-time analysts led by Chartered Market Technician
Robert Prechter provides 24-hour-a-day market analysis to
institutional and private investors around the world.
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