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Running Flat Pattern - Forex Trading

Running Flat Pattern

Running Flat Pattern
Running Flat Pattern
Running Flat Pattern

Description

The Running correction is a rare special form of a failure. This pattern is a kind of Flat, with an elongated B wave and a very small C wave. According to theory wave C should be so short that it doesn’t get to the price territory of wave A. In our daily analysis we do not accept a C wave that fails to reach the price territory of wave A. Instead of a running correction this could in theory be an extension in an impulsive wave, where the wave has subdivided in two (or more) 1,2 combinations. If the B is a clear three wave, then it is a Running correction, otherwise an extension. In practice there will not be any difference in market direction: in both scenarios the market will explode in the direction of the B wave, therefore we prefer to label it as an extension. For the sake of correctness we do included this pattern in our daily analysis.

Rules and guidelines

The B wave must be composed of three waves. • The C wave must be composed of five waves. • Wave C must be very short and normally will not reach the price territory of A. • Wave C must not retrace more than 100% of wave B but more than 60% of wave A.

In which wave

Most of the time it should occur in wave 2 or B.  

Internal structure

It is a three-wave structure. The internal structure is  3-3-5.

X wave

Description

An X wave is an intermediate wave in a more complex correction. This wave is always corrective and can take many forms like a Zigzag, Double Zigzag, Flat, Expanded Flat, combination and a triangle.  

One thought on “Running Flat Pattern

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