medium · Elliott Wave Theory complex
A corrective structure is labeled as a 'Double Zigzag' (W-X-Y). Wave W is a zigzag with a range of 600 points.
If the connecting X-wave rallies 525 points, what does this deep retracement imply about the following Y pattern?
- The structure will most likely terminate as a Regular Flat instead.
- The deep X-wave rally instead signifies the start of a new, larger impulse trend.
- The Y wave will likely produce a deep, sharp continuation of the correction.
- The correction is instead shifting entirely into a shallow, sideways combination structure.
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