The complex correction WXYXZ

When we find no divergence between the two momentum peaks — that is, when momentum increases from wave to wave — we do not call the structure ABC but WXY: an extended complex correction. In Elliott theory the complex is defined by its structure: several simple corrections (zigzag, flat or triangle) linked by connecting waves we symbolise with the letter X. Its simplest form is two joined corrections WXY, and its longest three joined ones WXYXZ, which in our school is the fourth structure in its own right.

The structure of the waves

• W — the first simple correction (which may be a zigzag or a flat).
• X — a connecting wave that rebounds in the direction of the original move, separating one correction from another.
• Y — a second simple correction that extends the corrective move.
• X — a second connecting wave (in the longer form).
• Z — a third simple correction that ends the complex.