Expanded flat pattern
B=127.2 % of A leg =1.2241
perfect price to sell
short position
B=127.2 % of A leg =1.2241
perfect price to sell
short position
Trade active:
Price is near 138.2 % of wave A=1.2300
if price go above 1.2300 than we have not expanded flat pattern
if price go above 1.2300 than we have not expanded flat pattern
Comment:
Rules of expanded flat pattern
Flats are always a 3 wave structure.
Wave A is a three wave pattern and never a Triangle.
Structure = 3-3-5
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 always goes beyond Wave A.
Wave C always subdivide into 5 wave structures: a Diagonal or an Impulse wave.
Guidelines:
Waves C usually goes between the 100% to the 161.8% of Wave A.
Waves A and C usually are not Equal in length.