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How to count waves and the Elliott waves

Double Zigzag Pattern

The double zigzag pattern is a distinctive 
complex corrective wave.  Though in theory the pattern is easy to understand,
quite often Elliott wave traders do struggle
to spot it.  The anatomy of the double zigzag is self explanatory because it is a price structure that couples two zigzags into one with a "three".  The double zigzag is a three-segment price structure. 

The first and 3rd parts of the structure are zigzag patterns, but the second part is a "three" also commonly called X wave.
One may think of a double zigzag as a twin
zigzag with a three in between. 

Do not worry too quickly if you wonder what is a "three".  I will explain it very shortly.

Really, if one takes apart a zigzag pattern, one will uncover the internal structure (5, 3, 5).

Note that traders often refer to the zigzag pattern as ABC pattern.  A "three" is the connector of the two zigzags that form the
double zigzag.  A "three" in between a double zigzag pattern is like the X-wave in the WXY corrective wave.  However, the X-wave structurally differs from the three.

A "three" is also a three-component pattern.  Moreover, the three in between is correcting the first zigzag pattern in the structure of the double zigzag pattern.

The representation of the internal waves of a double zigzag is ((5, 3, 5); (1, 2, 3); (5, 3, 5)). 

Truly, the double zigzag is an extension of a corrective wave.  Let's me clarify that essential point. 
Note that, first there was an impulse wave,
and because of that a correction starts.  The first part of the correction was a zigzag.  As the zigzag pattern is completed everyone was thinking may be this is the end of the correction.  As they were expecting another impulse wave at the end of that zigzag instead they had a
three-segment price structure that is not an impulse wave.  It was a three.

As the first zigzag is completed, there is a continuation as a three.  Really, traders were expecting an impulse wave after the zigzag but the price printed instead another corrective wave as three.
Moreover, after the three, appears another zigzag.

Triple Three Or Triple Zigzags

When a double zigzag pattern is prolonged,
one may see a triple three.   In this instance, another three connects the double zigzag to a new zigzag.  It is a complex correction.  A triple three is a price structure that is formed of three zigzag patterns.  The first zigzag connects to the second with a three like the second zigzag connects to the third.

Note that the triple three is a rare complex corrective wave especially on the higher time frames.  One is more likely
to see WXY corrective wave than the triple three.
In the case of the triple three, the correction has been prolonged more than expected.  Both the double and triple zigzags are extended corrective waves. 

A double zigzag is an unusual pattern but also an interesting wave pattern. 
Usually, at the end of the double zigzag, it is normal that one examines the sector and fundamentals.  If the market sentiment does not change since the start of the correction, the correction may be extended.

As always, I enjoy writing this article and I hope it has been useful to you.  Feel free to share it on the social media.