Showing posts with label double three. Show all posts
Showing posts with label double three. Show all posts

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.