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Written and copyright © 2008-2011 by Thomas N. Bulkowski. All rights reserved.
This page describes the double zigzag pattern of the Elliott wave principle, how price moves not in a straight line but in
a series of rises and retracements.
The figure to the right shows what a double zigzag wave looks like. If you know what a zigzag looks like, then
the double zigzag is two of them pasted together with a 'three' in between. Sometimes, you see three zigzags coupled together
when price falls short of its intended target, according to Frost and Prechter. The double and triple zigzags are similar to an
extension of an impulse wave,
if you know what that means, but are rarer. Second waves often have zigzags as their subwaves but fourth waves rarely do.
This chart is the same as the prior one but the wave occurs in a bear market. Highlighted in red is the three subwave
pattern (1, 2, and 3) connecting the two zigzags together.
Each zigzag is a 5-3-5 pattern itself, meaning it has five subwaves in A, three in B, and another five in C. The end of wave B should fall well short of the start
of wave A.
Double Zigzag Wave Rules
The double zigzag has rules that govern its shape. They are listed here.
- The double zigzag is an ABC correction of the motive wave.
- A double zigzag are two zigzag patterns coupled together by a 'three'.
- Subwave B in each zigzag falls well short of the start of subwave A.
-- Thomas Bulkowski
Copyright © 2008-2011 by Thomas N. Bulkowski. All rights reserved. Bumper sticker: Driver carries no cash. He's married.
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