Elliott wave pattern - Zigzag (ZZ), Double Zigzag (DZ), Triple Zigzag (TZ), Internal structure, Rules and Guidelines

A Zigzag (ZZ) is a 3-wave structure labelled A-B-C, moving counter to the larger trend. It is one of the most common corrective Elliott patterns.

Internal structure and the most common shape for a rising Zigzag (ZZ), Elliott wave pattern

Internal structure and the most common shape for a falling Zigzag (ZZ), Elliott wave pattern

Rules and guidelines for identifying and labeling a Zigzag pattern
1) Wave A must be an Impulse or a Leading Diagonal.
2) Wave B can only be a corrective pattern.
3) Wave B must be shorter than wave A by price distance.
4) Wave C must be an Impulse or an Ending Diagonal.
5) Wave C may not be an Ending Diagonal if Wave A is a Leading Diagonal.

Double and Triple Zigzag (DZ and TZ)
Double and Triple Zigzags are similar to Zigzags, and are typically two or three Zigzag patterns strung together with a joining wave called an "x" wave. They are corrective in nature. Triples are uncommon. Zigzags, Double Zigzags and Triple Zigzags are also known as Zigzag family patterns, or Sharp patterns. Double Zigzags are labelled w-x-y, while Triple Zigzags are labelled w-x-y-xx-z.

Internal structure and the most common shape for a rising Double Zigzag (DZ), Elliott wave pattern

Internal structure and the most common shape for a falling Double Zigzag (DZ), Elliott wave pattern

Internal structure and the most common shape for a rising Triple Zigzag (TZ), Elliott wave pattern

Internal structure and the most common shape for a falling Triple Zigzag (TZ), Elliott wave pattern

Rules and guidelines for identifying and labeling a Double and Triple Zigzag pattern
1) Wave W must be a Zigzag.
2) Wave X can be any correction except an Expanding Triangle.
3) Wave X must be smaller than wave W by price.
4) Wave Y must be a Zigzag.
5) Wave Y must be equal to or longer than Wave X by price.
6) Wave XX can be any correction except an Expanding Triangle.
7) Wave XX must be smaller than wave Y by price.
8) Wave Z must be a Zigzag.
9) Wave Z must be greater than or equal to 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 - Flat (FL), Double Sideways (D3), Triple Sideways (T3), Internal structure, Rules and Guidelines
Elliott wave pattern - Triangle [Contracting (CT) and Expanding (ET)], Internal structure, Rules and Guidelines

4 comments:

  1. I was particularly looking out for this since so long........thanks for sharing and making it terribly simple. Thanks a lot!! :D

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    Replies
    1. Hi Vishal, I hope you start with "labeling" soon, in your charts :D

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  2. Dear AJ, when I tried to download your EW Calculator, I was re-directed to a site that I've tried before (Ilivid) which included malware in the download. Do you have an alternative means of downloading your calculator? Thanks, QuickRick

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    Replies
    1. Hi Quick Rick,
      The EW Calculator file is uploaded to 4shared. I just downloaded it, to check. It is not re-directing me to any other website or malware. Thanks

      Delete