Even in the case of a double flat, the channelling component is different from what channeling in general means. When compared with the double flat pattern, a double three has no channelling component. In a way, such a pattern resembles a double-flat pattern, the only difference being that the x-wave retraces more than 61.8% into the territory of the first correction (more on fib levels in the future chapters). It merely means that we can only look for flat patterns for corrections that form both before and after the x-wave. To have this outcome, the x-wave should be included in this category as well. This is also known as an accumulation period! Yes, most people who like to accumulate when markets are flat, even have Elliot Wave patterns applied.

So, as you can see, if you can memorize the simple patterns, then you can start applying more advanced theories on top of them!ģ.4 Barrier Triangle, Expanded Triangle 3.5 Double-ThreeĪ double-three pattern is most often distinguished by all the segments in the pattern being almost equal.

In the previous chapter we talked about the running flat and contracting triangle, but for these two, they are essentially the same but different overall shape! Most importantly, these are very common patterns within the realm of technical analysis and these textbook patterns also have Elliot Wave patterns within these common patterns.

Welcome to Chapter 3.5, where we talk further about two more different types of triangles - the Barrier and Expanded triangle.

Waves complete cost