As of 09/22/2023   Indus: 33,964 -106.58 -0.3%     Trans: 14,988 -70.12 -0.5%     Utils: 871 -3.09 -0.4%     Nasdaq: 13,212 -12.17 -0.1%     S&P 500: 4,320 -9.94 -0.2%	YTD  +2.5%    +11.9%   -9.9%    +26.2%    +12.5%	Targets    Overview: 09/15/2023     36,250 or 33,850 by 10/01/2023   15,900 or 14,800 by 10/01/2023   900 or 850 by 10/01/2023   14,400 or 13,000 by 10/01/2023   4,575 or 4,300 by 10/01/2023
Chart Pattern Indicator: on 9/15/23

As of 09/22/2023   Indus: 33,964 -106.58 -0.3%     Trans: 14,988 -70.12 -0.5%     Utils: 871 -3.09 -0.4%     Nasdaq: 13,212 -12.17 -0.1%     S&P 500: 4,320 -9.94 -0.2%	YTD  +2.5%    +11.9%   -9.9%    +26.2%    +12.5%
Targets    Overview: 09/15/2023     36,250 or 33,850 by 10/01/2023   15,900 or 14,800 by 10/01/2023   900 or 850 by 10/01/2023   14,400 or 13,000 by 10/01/2023   4,575 or 4,300 by 10/01/2023
Chart Pattern Indicator: on 9/15/23

Bulkowski on the Expanded Flat Elliott Wave Pattern

This page describes the expanded flat corrective wave of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.

Flats come in three varieties, regular, expanded, and running. This page concerns itself with the expanded flat. An expanded flat is more common than a regular flat. Elliott called an expanded flat an irregular flat. The chart to the right shows the basic configuration of an expanded flat in a bull market. Notice how wave B extends beyond the start of wave A, and wave C extends beyond the end of wave A.

The chart to the right has the same general shape as the preceding chart but with more detail. It shows the subwaves within the extended flat 3-3-5 correction. The red numbers 1-5 describe the line segments or subwaves within the ABC correction. Wave A is composed of three subwaves as is wave B, but wave C has five subwaves. That's where the flat 3-3-5 term comes from. A flat is a term used for any ABC correction that has 3-3-5 subwaves.

This chart shows the same expanded flat 3-3-5 corrective wave but in a bear market (also called an inverted expanded flat). Waves A and B are threes and wave C is a five. Wave B ends beyond where wave A starts, and wave C ends well beyond where wave A ends.

Expanded Flat Elliott Wave Rules

The three wave corrective phase has rules that govern its shape. They are listed here.

• Corrective waves can head up or down.
• The corrective phase aligns against the trend of one higher degree (a counter trend move).
• Wave B terminates beyond the start of wave A.
• Wave C terminates beyond the end of wave A.

-- Thomas Bulkowski

See Also

• Here is the main resource for Elliott wave information.
• Support and resistance. Learn the various types.
• Market direction. 7 tips to determining.
• Trading cycles help time your entries and exits.
• Trend change detection using a triangle apex.

 

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