Black Swan Elliott Wave Framework – Key Patterns
We continuously scan price action in the major currency pairs and key market indices within hourly, four-hour, daily, and weekly timeframes in an effort to define the best-fit among the seven impulse and fourteen corrective patterns defined below. Our expected goals from applying an Elliott Wave framework include: 1) higher probability trade setups; 2) technically sound risk levels; and 3) more objective profit targets.
Seven Impulse Patterns Abbreviation
Extended Wave 1 IE1
Extended Wave 3 IE3
Extended Wave 5 IE5
Diagonal (Ending and Contracting) IDEC
Diagonal (Ending and Expanding) IDEE
Diagonal (Leading and Contracting) IDLC
Diagonal (Leading and Expanding) IDLE
Fourteen Corrective Patterns
Zig Zag (5-3-5)
Single ZZs
Double ZZd
Triple ZZt
Flat (3-3-5)
Horizontal Fh
Expanding Fe
Running Fr
Triangle
Contracting Tc
Ascending Ta
Descending Td
Expanding Te
Combinations*
Flat-X-Zig Zag FXZZ
Flat-X-Triangle FXT
Zig Zag-X-Flat ZZXF
Zig Zag-X-Triangle ZZXT
*Triple combos not included