Basic Elliott Wave Analysis
Zigzags may also unfold as a double or triple pattern, called a double or
triple zigzag. Double and triple zigzags are connected by an intervening wave X.
Prechter included points W, Y, and Z to represent the first, second, and third com-
pleted zigzag formations. See Figure 18.8.
Flats come in three different forms, namely:- Regular flat
- Expanded flat
- Running flat
As a rule, all flats subdivide into three waves and unfold in a 3‐3‐5 pattern. In
a flat, wave A must not be a triangle formation and wave C unfolds as either an
impulsive wave or diagonal triangle. To retain its classification as a flat and to dis-
tinguish it from a zigzag pattern, wave B must retrace close or slightly beyond the
start of wave A. In a regular flat, wave B retraces close to the start of wave A and
wave C ends near the end of wave A. In an expanded flat, wave B retraces beyond
the start of wave A and wave C extends beyond the end of wave A. Finally, in a
running flat, wave B retraces slightly beyond the start of wave A and wave C fails
to extend beyond the end of wave A. See Figure 18.9.figure 18.8 Double and Triple Zigzags.figure 18.9 Regular, Expanded, and Running Flats.