A reference guide for what corrective forms can appear as wave 2 and wave 4 in an impulse, and what motive forms appear as waves 1, 3, and 5.
Description
This reference summarizes the wave forms that appear as sub-waves within an impulse wave, based on observed frequency (◎ = most common, ○ = frequent, △ = occasional).
Key Points
- Wave 1: Impulse ◎, Leading Diagonal ○
- Wave 2: Zigzag ◎, Double Zigzag ◎, Double Three ○, Flat ○, Triple Three △, Triple Zigzag △. Triangle does not normally appear in wave 2 (exception: in small-degree waves of commodity markets)
- Wave 3: Impulse only (this is a rule — wave 3 is always an impulse, never a diagonal or correction)
- Wave 4: Flat ◎, Triangle ◎, Zigzag ○, Double Zigzag ○, Double Three ◎, Triple Three △, Triple Zigzag △. Wave 4 is more likely sideways than wave 2 (alternation)
- Wave 5: Impulse ◎, Ending Diagonal ◎
- Key observation: when wave 2 consists of a zigzag + triangle double three, the subsequent wave 3 often becomes a large extended impulse — this pattern is associated with sharp market moves (crashes in downtrends)
- Wave 2 vs. wave 4 alternation: if wave 2 is a zigzag (sharp), wave 4 tends to be flat/triangle/combination (sideways), and vice versa
