Technical Analysis With Charts Message Board

From: MACD X	4/7/2007 5:51:38 PM
	of 6865

ELLIOTT WAVE ZIG ZAG AND FLAT CORRECTIONS stockcharts.com One of the rules of elliott wave is the rule of alternations. Meaning that if wave two is a flat correction then wave four will be a zig zag and vice versa. This is what is shown on the chart above. It is also possible that wave two will be a zig zag and wave four will be flat correction. Flat corrections come in many flavors and can be counted as ABC ABCABCABC or ABCXABC or any other combination and last a very long time , but the fact is they go now where just flat price movement thus the name flat correction applys. Zig Zag correction move in a counter trend move and usually are counted ABC. ABC moves are the sign of a correction. This ABC labeling will be in every wave of the correction as well. Corrections zig zag or flat usually can be counted in ABC type counts within the sperate wave moves.