As of 12/07/2023
  Indus: 36,117 +62.95 +0.2%  
  Trans: 15,299 +69.26 +0.5%  
  Utils: 878 -1.01 -0.1%  
  Nasdaq: 14,340 +193.28 +1.4%  
  S&P 500: 4,586 +36.25 +0.8%  
YTD
 +9.0%  
 +14.2%  
-9.2%  
 +37.0%  
 +19.4%  
  Targets    Overview: 11/29/2023  
  Down arrow34,500 or 36,400 by 12/15/2023
  Down arrow14,500 or 15,800 by 12/15/2023
  Up arrow900 or 825 by 12/15/2023
  Down arrow13,700 or 14,450 by 12/15/2023
  Down arrow4,450 or 4,650 by 12/15/2023
As of 12/07/2023
  Indus: 36,117 +62.95 +0.2%  
  Trans: 15,299 +69.26 +0.5%  
  Utils: 878 -1.01 -0.1%  
  Nasdaq: 14,340 +193.28 +1.4%  
  S&P 500: 4,586 +36.25 +0.8%  
YTD
 +9.0%  
 +14.2%  
-9.2%  
 +37.0%  
 +19.4%  
  Targets    Overview: 11/29/2023  
  Down arrow34,500 or 36,400 by 12/15/2023
  Down arrow14,500 or 15,800 by 12/15/2023
  Up arrow900 or 825 by 12/15/2023
  Down arrow13,700 or 14,450 by 12/15/2023
  Down arrow4,450 or 4,650 by 12/15/2023

Bulkowski on the Double Zigzag Elliott Wave Pattern

This page describes the double zigzag pattern of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.

 

The double zigzag wave in a bull market. The figure to the right shows what a double zigzag wave looks like. If you know what a zigzag looks like, then the double zigzag is two of them pasted together with a 'three' in between. Sometimes, you see three zigzags coupled together when price falls short of its intended target, according to Frost and Prechter. The double and triple zigzags are similar to an extension of an impulse wave, if you know what that means, but are rarer. Second waves often have zigzags as their subwaves but fourth waves rarely do.

The double zigzag in a bear market. This chart is the same as the prior one but the wave occurs in a bear market. Highlighted in red is the three subwave pattern (1, 2, and 3) connecting the two zigzags together. Each zigzag is a 5-3-5 pattern itself, meaning it has five subwaves in A, three in B, and another five in C. The end of wave B should fall well short of the start of wave A.

Double Zigzag Wave Rules

The double zigzag has rules that govern its shape. They are listed here.

See Also

 

Support this site! Clicking any of the books (below) takes you to Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notice for paid links: "As an Amazon Associate I earn from qualifying purchases."

My novels:  Remember Me book Bumper's Story book Head's Law book
My stock market books:  Chart Patterns: After the Buy Getting Started in Chart Patterns 2nd edition book Trading Basics book Fundamental Analysis and Position Trading book Swing and Day Trading book Encyclopedia of Chart Patterns 3rd Edition book

Copyright © 2005-2023 by Thomas N. Bulkowski. All rights reserved.
Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.
Some pattern names are registered trademarks of their respective owners.
Home Advertise Contact Donate Privacy/Disclaimer

Bumper sticker: Driver carries no cash. He's married.Smiley