Classic Double Correction Pattern

This is a classic example of Double correction (Double three) in HDFCLIFE.

Marked in the first box, we can see Flat Correction where wave B is retraced to the 81% level. We are fulfilling the minimum requirement (61.8%) of wave B. Here in wave C, we see three waves. This is the first hint of an upcoming complex correction. The whole wave is marked as W here.

In the second box, there is a perfect Zig-zag pattern. Wave B is retraced to 50% here. Also, we can see three waves in wave C, which gives us wave Y.

These two waves are connected by wave X which is retraced to 111%.

This is the best example of Double correction.

This analysis is for educational purposes only.

This analysis is based on Elliott Wave theory and Fibonacci analysis.