I've identified another way a double zigzag can form. This observation has us in the "a" leg of the second zigzag that has not yet complete. My other posts talk about how we are making a b wave of the X wave of the double zigzag. However, this is equally possible. We won't know for sure until we retrace from 8 area. If we retrace to .618 from last weeks low, this count is correct. If however we retrace all the way down to last week's low, this count is incorrect and the linked count is correct.
One thing I've noticed from backtesting double zigzags is that the "a" leg of the second zigzag exceeds the first zigzag. If that is the case we shouldn't expect a double zigzag until this occurs. This may happen on the next wave up we are currently in.
One thing I've noticed from backtesting double zigzags is that the "a" leg of the second zigzag exceeds the first zigzag. If that is the case we shouldn't expect a double zigzag until this occurs. This may happen on the next wave up we are currently in.
