The only zigzag in the bull market is a simple three-wave decline pattern, indicated by A-B-C. The subwave sequence is 5-3-5, and the peak of wave B is noticeably lower than the start of wave A, as shown in figures 1-22 and 1-23.
In a bear market, a zigzag correction occurs in the opposite direction, as shown in Figures 1-24.
and 1-25. For this reason, a zigzag in a bear market is often called an inverted zigzag.
Sometimes zigzags occur twice or at most three times in a row, especially when the first zigzag does not reach the normal target. In these cases, each zigzag is divided by an intermediate “triple”, producing the so-called double zigzag (see Fig. 1-26) or a triple zigzag. These formations are similar to the propagation of a pulse wave, but less common.
Correction in the Standard and Poor's 500 Index
January 1977 to March 1978 (see Fig. 1-27) can be designated as a double zigzag, as well as the Dow correction from July to October 1975 (see Fig. 1-28). Within pulses, the second waves often have zigzags, while the fourth waves rarely do
UK Navy The original Elliott marking of double and triple zigzags and double and triple triples (see the later section) was a quick recording. He designated the intermediate motions as wave X, so the double corrections were designated as A-B-C-X-A-B-C. Unfortunately, this entry incorrectly indicated the degree of active waves of each simple model. They were marked as only one degree less than the entire correction, although in fact they are two degrees less. We eliminated this problem by introducing a useful naming device: marking the sequential effective components of the double and triple corrections as waves W, Y and Z, so that the whole pattern is considered “W-X-Y (-X-Z)”. The letter “W” now denotes the first correction pattern in double or triple correction, Y - the second, and Z - the third in the triple. Each of its subwaves (A, B or C, as well as the D or E of the triangle - see the next section) is now correctly displayed two degrees less than the entire correction. Each wave X is a reaction wave and, therefore, always a correction wave, usually another zigzag.
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