Part III. Major EW Patterns – Correction
![Major EW Patterns – Correction - Forex School](../../community/s3/book/warrant-officer-5d2f1c656af75.jpg)
![Countertrend waves - Forex School](../../community/s3/book/1-5bb617a67ab90.png)
Check out these pictures:
![Forex Military School – Major EW Patterns – Correction](../../community/s3/book/2-5bb617b06595d.png)
Pipruit: Looks like it works on bear market as well… Sir, and why are waves 2 and 4 mark with numbers, and not with letters –they are also some kind of retracement…
So, In general there are 21 different types of corrective move, according to EW Theory. But don’t be scared – all of them could be divided in three major types – Zigzag, flat and triangle.
Zigzag type
![Corrective move - Zigzag type - Forex School](../../community/s3/book/3-5bb617b935117.png)
Flat type
This type usually happens, when market has shallow countertrend momentum. So it has not strongly directional move against the previous trend. Because of that each wave of ABC pattern countered each other and all of them relatively the same in terms on length:
![Corrective move - Flat type - Forex School](../../community/s3/book/4-5bb617c2c7a71.png)
Triangle type
This type is a bit different from two previous ones, mostly by the structure of corrective move. Triangle type consists of 5 3-wave pattern, very similar to “Ending diagonal” in previous part of the current chapter. There could be descending, ascending triangles, as well as narrowing and broadening ones. As usual, you can more easily understand it by looking at the following picture:
![Corrective move - Triangle type - Forex School](../../community/s3/book/5-5bb617ccaec61.png)
Comments
![H](https://www.forexpeacearmy.com/community/s3/data/avatars/m/146/146660.jpg)
Hamza Samiullah
6 years ago,
Registered user
nice work
O
One-fm
5 years ago,
Registered user
Good.
Table of Contents
- Introduction
- FOREX - What is it ?
- Why FOREX?
- The structure of the FOREX market
- Trading sessions
- Where does the money come from in FOREX?
- Different types of market analysis
- Chart types
- Support and Resistance
-
Candlesticks – what are they?
- Part I. Candlesticks – what are they?
- Part II. How to interpret different candlesticks?
- Part III. Simple but fundamental and important patterns
- Part IV. Single Candlestick Patterns
- Part V. Double Deuce – dual candlestick patterns
- Part VI. Triple candlestick patterns
- Part VII - Summary: Japanese Candlesticks and Patterns Sheet
-
Mysterious Fibonacci
- Part I. Mysterious Fibonacci
- Part II. Fibonacci Retracement
- Part III. Advanced talks on Fibonacci Retracement
- Part IV. Sometimes Mr. Fibonacci could fail...really
- Part V. Combination of Fibonacci levels with other lines
- Part VI. Combination of Fibonacci levels with candle patterns
- Part VII. Fibonacci Extensions
- Part VIII. Advanced view on Fibonacci Extensions
- Part IX. Using Fibonacci for placing orders
- Part X. Fibonacci Summary
-
Introduction to Moving Averages
- Part I. Introduction to Moving Averages
- Part II. Simple Moving Average
- Part III. Exponential Moving Average
- Part IV. Which one is better – EMA or SMA?
- Part V. Using Moving Averages. Displaced MA
- Part VI. Trading moving averages crossover
- Part VII. Dynamic support and resistance
- Part VIII. Summary of Moving Averages
-
Bollinger Bands
- Part I. Bollinger Bands
- Part II. Moving Average Convergence Divergence - MACD
- Part III. Parabolic SAR - Stop And Reversal
- Part IV. Stochastic
- Part V. Relative Strength Index
- Part VI. Detrended Oscillator and Momentum Indicator
- Part VII. Average Directional Move Index – ADX
- Part VIII. Indicators: Tightening All Together
- Leading and Lagging Indicators
- Basic chart patterns
- Pivot points – description and calculation
- Elliot Wave Theory
- Intro to Harmonic Patterns
- Divergence Intro
- Harmonic Approach to Recognizing a Trend Day
- Intro to Breakouts and Fakeouts
- Again about Fundamental Analysis
- Cross Pair – What the Beast is That?
- Multiple Time Frame Intro
- Market Sentiment and COT report
- Dealing with the News
- Let's Start with Carry
- Let’s Meet with Dollar Index
- Intermarket Analysis - Commodities
- Trading Plan Framework – Common Thoughts
- A Bit More About Personality
- Mechanical Trading System Intro
- Tracking Your Performance
- Risk Management Framework
- A Bit More About Leverage
- Why Do We Need Stop-Loss Orders?
- Scaling of Position
- Intramarket Correlations
- Some Talk About Brokers
- Forex Scam - Money Managers
- Graduation!