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Wave C is considered an impulse or ending diagonal and ends lower than the low of wave A.Wave B ends higher than the beginning of wave A.Wave C is also extended and goes deeper than wave A.Wave B makes a fake breakout above the last high.Expanded flat is a corrective wave pattern with an extended wave B, which reaches higher than the start of wave A.Confused already? Go back and re-read everything. The Expanded Flat is the second most common one under the flat corrections. Once you achieve an overall picture of the structure (about 70% through), you can start considering on entering a position to increase your probabilities and risk of not over trading. Otherwise, watch for overall market structure to avoid overtrading in corrections since these are the most trickiest. ❗The ABSOLUTE most important thing is to just observe in corrective waves unless you are a true day trader. Although it is called the Regular Flat Correction, it is not the most common one and the second most common consolidated corrective pattern.Most of the time, Waves B/C go some degree above or below of Wave A (just to trick people into believing a breakout occurs, hence, choppy!).Wave C is impulsive, but does not go much below Wave A.It's a sideways movement - Wave A and Wave B are corrective.
This can be a very confusing pattern for many as it's also known to cause a lot of losses for intraday traders - it's AKA a "choppy" market period.Īs wave A is not five-waved and powerful enough, the retracement of wave B is considered strong. The Flat correction is probably the second most common corrective pattern and always has a 3-3-5 structure. If you learn even the basics of corrective Elliot Waves, you can use them to your advantage to identify if we are in a fakeout and identify whether you are in a corrective pattern or not.ģ.1 Zig-Zag Waves 3.2 Flat Correction, Expanded Flat These corrections more often than not, destroy traders. This is where most people will get "chopped" up in the market, as these corrections can often cause a lot of small panics within these corrective waves. The frequency is measured in Hertz and the Wavelength is measured in meters. The second aspect you need is the wave Frequency, or the number of waves or vibrations produced per second. This could be measured Crest to Crest, Trough to Trough, or any other complete cycle of a wave. In chapter 3.2, we will be discussing Zig-Zag waves. know the Wavelength, or the length of one complete wave cycle. Welcome to Chapter 3.2, where we talk about another form of corrective waves, the Flat and Expanded correction.