A Flat (FL) is a three-wave pattern, labeled A-B-C, that moves mostly sideways. It is corrective, counter-trend and is a very common Elliott pattern. They differ to Zigzags in that they tend to move sideways rather than strongly up or down - hence the name “Flat”. In contrast, Zigzags (or Sharps – as they are known) move “sharply” or strongly up or down.
Internal structure and the most common shape for a rising Flat (FL), Elliott wave pattern
Internal structure and the most common shape for a falling Flat (FL), Elliott wave pattern
Rules and guidelines for identifying and labeling a Flat pattern
1) Wave A can be any corrective pattern.
2) Wave B can be any corrective pattern except a Triangle.
3) Wave B must retrace Wave A by at least 50% by price.
4) Wave B must be less than twice the price length of Wave A.
5) Wave C can only be an Impulse or an Ending Diagonal.
6) Wave C must be no more than 3 times the price length of Wave A.
7) Wave C must be no longer than twice the price distance of both Waves A and B.
8) Wave C must share some common price territory with Wave A.
Double Sideways (D3) and Triple Sideways (T3)
Double and Triple Sideways patterns (also known as Double 3’s and Triple 3’s) are similar to Flats, and are typically two or three corrective patterns strung together with a joining wave, called an "x" wave. They are all corrective in nature. Triples are rare. Doubles are labelled w-x-y, while Triples are labelled w-x-y-xx-z.
Internal structure and the most common shape for a rising Double Sideways (D3), Elliott wave pattern (below)
Internal structure and the most common shape for a falling Double Sideways (D3), Elliott wave pattern (below)
Internal structure and the most common shape for a rising Triple Sideways (T3), Elliott wave pattern
Internal structure and the most common shape for a falling Triple Sideways (T3), Elliott wave pattern
Rules and guidelines for identifying and labeling a Double Sideways and Triple Sideways pattern
1) Wave W may be any corrective pattern except a Triangle, or a Double or Triple pattern.
2) Wave X may be any corrective pattern except a Triangle, or a Double or Triple pattern.
3) Minimum Wave X retracement is 50% of Wave W.
4) Maximum retracement of Wave X on Wave W is 400%.
5) Wave Y may be any corrective pattern except a Double or Triple pattern.
6) Wave Y must be greater than Wave X by price except if it is a Triangle.
7) Wave XX may be any corrective pattern except a Triangle, or a Double or Triple pattern.
8) Minimum XX wave retracement is 50% of Y.
9) Maximum retracement of Wave XX on Wave Y is 400%.
10) Wave Z may be any corrective pattern except a Double or Triple pattern. However Z cannot be a Zigzag if Y is a Zigzag.
11) Wave Z must be greater than Wave XX by price.
Other Posts of Interest
Download - Elliott Wave Calculator
Elliott wave pattern - Impulse (IM), Internal structure, Rules and Guidelines
Elliott wave pattern - Diagonal [Leading (LD) and Ending (ED)], Internal structure, Rules and Guidelines
Elliott wave pattern - Zigzag (ZZ), Double Zigzag (DZ), Triple Zigzag (TZ), Internal structure, Rules and Guidelines
Elliott wave pattern - Triangle [Contracting (CT) and Expanding (ET)], Internal structure, Rules and Guidelines
Internal structure and the most common shape for a rising Flat (FL), Elliott wave pattern
Internal structure and the most common shape for a falling Flat (FL), Elliott wave pattern
Rules and guidelines for identifying and labeling a Flat pattern
1) Wave A can be any corrective pattern.
2) Wave B can be any corrective pattern except a Triangle.
3) Wave B must retrace Wave A by at least 50% by price.
4) Wave B must be less than twice the price length of Wave A.
5) Wave C can only be an Impulse or an Ending Diagonal.
6) Wave C must be no more than 3 times the price length of Wave A.
7) Wave C must be no longer than twice the price distance of both Waves A and B.
8) Wave C must share some common price territory with Wave A.
Double Sideways (D3) and Triple Sideways (T3)
Double and Triple Sideways patterns (also known as Double 3’s and Triple 3’s) are similar to Flats, and are typically two or three corrective patterns strung together with a joining wave, called an "x" wave. They are all corrective in nature. Triples are rare. Doubles are labelled w-x-y, while Triples are labelled w-x-y-xx-z.
Internal structure and the most common shape for a rising Double Sideways (D3), Elliott wave pattern (below)
Internal structure and the most common shape for a falling Double Sideways (D3), Elliott wave pattern (below)
Internal structure and the most common shape for a rising Triple Sideways (T3), Elliott wave pattern
Internal structure and the most common shape for a falling Triple Sideways (T3), Elliott wave pattern
Rules and guidelines for identifying and labeling a Double Sideways and Triple Sideways pattern
1) Wave W may be any corrective pattern except a Triangle, or a Double or Triple pattern.
2) Wave X may be any corrective pattern except a Triangle, or a Double or Triple pattern.
3) Minimum Wave X retracement is 50% of Wave W.
4) Maximum retracement of Wave X on Wave W is 400%.
5) Wave Y may be any corrective pattern except a Double or Triple pattern.
6) Wave Y must be greater than Wave X by price except if it is a Triangle.
7) Wave XX may be any corrective pattern except a Triangle, or a Double or Triple pattern.
8) Minimum XX wave retracement is 50% of Y.
9) Maximum retracement of Wave XX on Wave Y is 400%.
10) Wave Z may be any corrective pattern except a Double or Triple pattern. However Z cannot be a Zigzag if Y is a Zigzag.
11) Wave Z must be greater than Wave XX by price.
Other Posts of Interest
Download - Elliott Wave Calculator
Elliott wave pattern - Impulse (IM), Internal structure, Rules and Guidelines
Elliott wave pattern - Diagonal [Leading (LD) and Ending (ED)], Internal structure, Rules and Guidelines
Elliott wave pattern - Zigzag (ZZ), Double Zigzag (DZ), Triple Zigzag (TZ), Internal structure, Rules and Guidelines
Elliott wave pattern - Triangle [Contracting (CT) and Expanding (ET)], Internal structure, Rules and Guidelines
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