Flats are always a 3 wave structure. Structure = 3-3-5 Wave A is a three wave pattern and never a Triangle. Wave B is subdivided into a three wave pattern. Wave B retraces to at least 105% of Wave A & typically up to the 138.2%. Wave C does not go beyond Wave A and is "Truncated". Wave C always subdivide into 5 wave structures: a Diagonal or an Impulse wave.
Guidelines:
Waves A and C connected usually is parallel to the Line connecting the origin of the ZigZag to point B. Waves A and C usually are Equal in length.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.