Tuesday, May 3, 2011

Double and triple three correction Elliott waves.

In the recent post I talked about Flat correction as one of Elliott wave pattern.

Double and triple three are another sideway correction which mean a two or three corrective waves. So a double three can be a flat follow by another flat by an x wave. Triple three similarly can be a flat, an x, a flat followed by another flat by another x wave.
An abc--x--abc commonly written as (w)-(x)-(y) while abc--x--abc--x--abc can better be understood as (w)-(x)-(y)-(x)-(z).

As alternation is one of important figure in Elliott waves, more commonly a double three could be a flat followed by another type of correction such as triangle. A flat followed by a zig zag is another more common double three.

Doubling or tripling a three is a nature way to reach the retracement goal in a sideway appearance. The first three often not adequate for a better ratio retracement so it is way for a more justified level. This also could be  a nature way the extend the time of corrective process so everything like a channel line or a better" looked" waves.

Please not that a triangle if a part of the three, the triangle is only at the final part of the three.

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