An Elliott Wave Flat structure is a 3-3-5 structure and has three different types: Regular Flat, Expanded / Irregular Flat, and Running Flat.
In this blog, we will take a look at an example of expanded / irregular Elliott Wave structure with $GBP/USD chart. Let’s take a look at the 4 hour chart below:
The expanded / irregular Elliott Wave structure that we want to take a look is highlighted in the grey box above. From red y, we can count 3 waves higher ending in blue (A). Then we have 3 waves lower ending in blue (B). Lastly, we have 5 waves higher which completes wave (C) of x. In this case, the 5 waves takes the form of a diagonal. So we have a 3-3-5 Elliott Wave flat structure in this particular case.
What distinguishes an expanded / irregular Elliott Wave structure from the other types of flat structure is that in expanded / irregular Elliott Wave structure, the second swing ends below the start of the first swing, and the third swing ends above the first swing. In this case, the second swing wave (B) ends below the start of wave (A) or below red y. The third swing wave (C) of X ends above wave (A).
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