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Mastering Elliott Wave Principle: Elementary Concepts, Wave Patterns, and Practice Exercises by Constance Brown

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A Zigzag Corrective Pattern

A Zigzag Corrective Pattern is the puzzle piece I captured for Figure 3.1 in data sample 1.

Figure 3.2 is a monthly chart of Apple stock displayed as a bar chart on the left and as a Japanese candlestick chart on the right. Study the correction within the white boxes. Though bar charts and candles are shown side-by-side, they should both have the same corrective feel to you. The first swing down is followed by a move that cannot retrace the entire path of the first. It fails to make a new high at that time and then the third swing down breaks the lows of the first. The third leg in the pattern travels a longer distance than the first. There is an abrupt ending and the larger uptrend resumes with conviction. The entire ...

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