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.


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