This pattern is generally found in the wave 4 or b position although can be seen in any corrective wave or as part of a combination move and is a 3-3-5 pattern
So wave [a] is 3 waves, wave [b] is 3 waves and wave [c] is 5 waves
The only exception to wave [c] being 3 waves is in either a triangle or an Ending Diagonal pattern as both those patterns are made up of a series of 3 waves
Wave [b] generally comes back to or near to the origin of the wave [a]
This is common pattern that fools many on the wave [b] part of the pattern, in that i am sure you have all seen the fake pokes and a double top or double bottom, well chances are that its a b wave and either part of normal flat or if the wave [b] breaches the origin of the wave [a] then its called a irregular flat or what most refer to as an expanded flat
The key is that its in 3 waves and the previous wave was 3 wave, ie the wave [a], there is also the tendency to see the start of a triangle only that then morphs into a flat where many think its going to be 3 waves for the triangle count it actually breaks the wave [a] point in 5 waves and then reverses and trapping many and takes out buy & sell stops at the same time
This is a nasty pattern if your not aware of it, as it tends to be sideways but pokes around and fools the majority especially if an expanded type
The Flat
Started by Nouf, Aug 22 2010 06:08 AM
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Posted 22 August 2010 - 06:08 AM
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