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Strategies & Market Trends : CFZ E-Wiggle Workspace
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From: POKERSAM1/19/2018 7:28:11 PM
   of 41470
 
GOLD Let's look at the Elliott Wave chart.

We begin at 1923.70, the high of 2011. We began the correction with five waves down to 1045.40
This is corroborated by waves [4] and [5].
Wave [4] was a symmetrical triangle. Triangles can only occur as the wave prior to the last wave in a pattern of one higher degree. Horizontal triangles can only be a corrective pattern.
Triangles have five sub waves of 3-3-3-3-3. This triangle wave four meets the requirements of a wave four.
Wave [5] was an ending diagonal. Ending diagonals occur within two converging trend lines and only occur as the last wave in a pattern of one larger degree. They have sub waves of 3-3-3-3-3. This wave [5] meets the requirements of an ending diagonal wave five.

When a correction has a five wave pattern as its initial wave the correction will be a simple ABC zig zag rather than a complex correction. Now note the pattern of the wave B of this ABC zig zag correction.

The wave B takes the pattern of a symmetrical triangle. It is the wave prior to the last wave of the ABC zig zag. Horizontal triangles only occur as a corrective pattern. It occurs as a five wave structure between two converging trend lines having sub waves of 3-3-3-3-3.
It is most common for the B wave in a zig zag correction to retrace the A wave by 38.2%. (1377.50)
This triangle meets all of the requirements for a B wave within an ABC zig zag correction.

The coming C wave will be a five wave impulse or an ending diagonal. The A and C of a zig zag are both 5 waves long. It is most common for the C wave to be similar in length to the A wave This would take the C wave down to 460.
The next most common length for C is 61.8% and 1.618% of A. The next most common length is 61.8% of A beyond the end of A.

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