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Basic Elliott Video Lesson -- How the Zigzag Measures Up
Quickly learn how to differentiate a zigzag from two common Elliott Wave patterns
By Jill Noble
Fri, 20 Jul 2012 14:45:00 ET
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You're not supposed to compare apples to oranges, but I do compare apples to apples: I prefer the classically mellow taste of Red Delicious to the grassy and tart Granny Smith.

It can be a challenge to describe the differences between two similar objects. For example, I'd struggle to tell the difference between Pinot Grigio and Sauvignon Blanc in a taste test (and why I don't try to earn a living as a sommelier).

When it comes to Elliott Wave analysis, it can be difficult to distinguish among technical patterns on a price chart, especially when you're new to trading.

That said, now it's your turn: can you explain how a zigzag compares to other corrective patterns?

Watch this brief clip to learn what the zigzag shape looks like in contrast to the other sideways structures. (Note: If you are interested in getting a strong foundation in the Wave Principle, consider attending one of our intensive one-day workshops.)

[Video clip excerpted from Wayne Gorman's "How to Trade When the Market Zigzags >>" ]

In the meantime, to understand corrective Elliott patterns (which move against the larger market trend) is to equip yourself to find opportunities in the direction of the trend. To be a consistently successful Elliott trader, the reality is that you need to be able to identify these forms as easily as a sommelier can distinguish a Malbec from a Chianti. 

How do you like them apples?

If you are ready to improve your analysis, take the next step in educating yourself about the basics of the Wave Principle -- attend an Intensive One-Day Elliott Wave Workshop this fall. 

Learn the Wave Principle -- The Key to Market Behavior -- at The Intensive One-Day Elliott Wave Workshop 

Teaching yourself the Wave Principle is not for everyone. That’s why we’ve created this one-day event, which will provide you with the foundation you need to begin analyzing wave patterns to anticipate the next moves in your markets. 

Check out our current dates and locations and reserve your seat TODAY >>

(Editor's note: Next week, we will share the next video clip, Characteristics of Zigzags, with Free Update readers. Watch this space for more.)

Tags: Elliott Wave Education, Elliott Wave Principle, technical analysis, Traders, trading lessons
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