Zigzag
Rules
· A zigzag always subdivides into three waves.
· Wave A always subdivides into an impulse or leading diagonal.
· Wave C always subdivides into an impulse or diagonal.
· Wave B always subdivides into a zigzag, flat, triangle or combination thereof.
· Wave B never moves beyond the start of wave A.
Guidelines
· Wave A almost always subdivides into an impulse.
· Wave C almost always subdivides into an impulse.
· Wave C is often about the same length as wave A.
· Wave C almost always ends beyond the end of wave A.
· Wave B typically retraces 38 to 79 percent of wave A.
· If wave B is a running triangle, it will typically retrace between 10 and 40 percent of wave A.
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· If wave B is a zigzag, it will typically retrace 50 to 79 percent of wave A.
· If wave B is a triangle, it will typically retrace 38 to 50 percent of wave A.
· A line connecting the ends of waves A and C is often parallel to a line connecting the end of wave B and the start of wave A. (Forecasting guideline: Wave C often ends upon reaching a line drawn from the end of wave A that is parallel to a line connecting the start of wave A and the end of wave B.)
Flat
Rules
· A flat always subdivides into three waves.
· Wave A is never a triangle.
· Wave C is always an impulse or a diagonal.
· Wave B always retraces at least 90 percent of wave A.
Guidelines
· Wave B usually retraces between 100 and 138 percent of wave A.
· Wave C is usually between 100 and 165 percent as long as wave A.
· Wave C usually ends beyond the end of wave A.
Notes
· When wave B is more than 105 percent as long as wave A and wave C ends beyond the end of wave A, the entire formation is called an expanded flat.
· When wave B is more than 100 percent as long as wave A and wave C does not end beyond the end of wave A, the entire formation is called a running flat.
Contracting Triangle
Rules
· A triangle always subdivides into five waves.
· At least four waves among waves A, B, C, D and E each subdivide into a zigzag or zigzag combination.
· Wave C never moves beyond the end of wave A, wave D never moves beyond the end of wave B, and wave E never moves beyond the end of wave C. The result is that going forward in time, a line connecting the ends of waves B and D converges with a line connecting the ends of waves A and C.
· A triangle never has more than one complex subwave, in which case it is always a zigzag combination or a triangle.
Guidelines
· Usually, wave C subdivides into a zigzag combination that is longer lasting and contains deeper percentage retracements than each of the other subwaves.
· Sometimes, wave D subdivides into a zigzag combination that is longer lasting and contains deeper percentage retracements than each of the other subwaves.
· Sometimes one of the waves, usually wave C, D or E, subdivides into a contracting or barrier triangle. Often the effect is as if the entire triangle consisted of nine zigzags.
· About 60 percent of the time, wave B does not end beyond the start of wave A. When it does, the triangle is called a running triangle.
Barrier Triangle
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· A barrier triangle has the same characteristics as a contracting triangle except that waves B and D end at essentially the same level. We have yet to observe a 9-wave barrier triangle, implying that this form may not extend.
· When wave 5 follows a triangle, it is typically either a brief, rapid movement or an exceptionally long extension.
Expanding Triangle
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Rules
Most rules are the same as for contracting triangles, with these differences:
· Wave C, D and E each moves beyond the end of the preceding same-directional subwave. (The result is that going forward in time, a line connecting the ends of waves B and D diverges from a line connecting the ends of waves A and C.)
· Subwaves B, C and D each retrace at least 100 percent but no more than 150 percent of the preceding subwave.
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· Most guidelines are the same, with these differences:
· Subwaves B, C and D usually retrace 105 to 125 percent of the preceding subwave.
· No subwave has yet been observed to subdivide into a triangle.
Combinations
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Rules
· Combinations comprise two (or three) corrective patterns separated by one (or two) corrective pattern(s) in the opposite direction, labeled X. (The first corrective pattern is labeled W, the second Y, and the third, if there is one, Z.)
· A zigzag combination comprises two or three zigzags (in which case it is called a double or triple zigzag).
· A "double three" flat combination comprises (in order) a zigzag and a flat, a flat and a zigzag, a flat and a flat, a zigzag and a triangle or a flat and a triangle.
· A rare "triple three" flat combination comprises three flats.
· Double and triple zigzags take the place of zigzags, and double and triple threes take the place of flats and triangles.
· An expanding triangle has yet to be observed as a component of a combination.
Guidelines
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· When a zigzag or flat appears too small to be the entire wave with respect to the preceding wave (or, if it is to be wave 4, the preceding wave 2), a combination is likely.