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A running correction is a concept that is easy to understand. The problem is to be able to accept that these corrections form often on the currency market.
Elliott Wave has clear rules regarding price targets that must be met, but time is more important and is the secret to master the art of speculation.
The running correction, is, firstly, a correction. It means it refers to the two corrective waves in an impulsive move. These are the second and the fourth waves.
As a rule of thumb, a complex correction is formed of two or three corrective waves, connected by an intervening wave. This intervening wave plays the role of an x-wave. It connects the two or three corrections.
The most comprehensive simple correction is the flat pattern. Here is how Elliott split them further.
Because of their complexity, Elliott divided corrective waves into 2 categories: simple and complex corrections. The complex ones are the most common.
Resist the temptation to blindly follow others’ advice. Beware of services or investment products flaunting incredible returns. Remember, soaring returns often accompany soaring risks. Prioritize investing in your own knowledge and mastering the art of safeguarding your assets!