In this webinar recording, we assessed another one of the cornerstone patterns of Elliott Wave Theory, the zigzag.
There are two main rules associated with zigzag waves:
- Wave B cannot retrace 100% or more of wave A.
- The subwaves are 5-3-5 meaning wave A has 5 waves, wave B has 3 waves, wave C has 5 waves
We also looked at an idealized view including subwaves for a zigzag. We also discussed channeling the zigzag and other common guidelines for them. More importantly, at the end, we discussed how you use this information to trade it.
See how Elliott Wave Theory is applied in the current environment in the main markets. Join Jeremy in the US Opening Bell webinar on Mondays here.
If you cannot make the live webinars, but wish to learn more about Elliott Wave theory, grab our beginning and advanced Elliott Wave guides here.
---Written by Jeremy Wagner, Head Trading Instructor, DailyFX EDU
Follow me on Twitter at @JWagnerFXTrader .
See Jeremy’s recent articles at his Bio Page.