Expanded Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Expanded Flat Pattern wave B completes below the start point of wave A, and wave C ends above the ending point of wave A which makes it Expanded. Wave C of expanded completes usually close to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext.
At the graphic below, we can see what Expanded Flat structure looks like.
In further text we’re going to see what Expanded Flat Pattern structure looks like in real example, but before we continue, here’s a short reminder: check out New EWF blogs and Free Elliott Wave charts.
$USDCAD h1 7.2.2016 Weekend Update Short term Elliottwave structure suggests pull back against the 1.26806 low is unfolding as a Expanded FLat structure where wave (a) ended at 1.2893 low , wave (b) at 1.3121 high and wave (c) is in the to complete ( 50-61.8 Fibonacci retracement area : 1.28877-1.28378 ). Structure is already showing enough swings with possibility of another marginal push lower to happen before the rally takes place.
$USDCAD h1 7.8.2016 New York Update We got proposed push lower and the pair found buyers shortly after. Wave X red pull back ended as Expanded Flat structure at 1.28260 low and pushing higher as expected.
Proper Elliott Wave counting is crucial in order to be a successful trader. If you want to learn more on how to implement Elliott Wave Theory in your trading and to learn more about next trading opportunities in the Market, try us free for 14 days. You will get access to Professional Elliott Wave analysis in 4 different time frames, Strategy of the Day/Week Video ,Live Trading Room , 2 live Analysis Session done by our Expert Analysts every day, 24 Hour Chat Room support, Market Overview, Weekly technical videos and much more…
If you are not member yet, use this opportunity and sign up now to get your Free 14 days Premium Plus Trial.
Welcome to Elliott Wave Forecast !
Back