Double Three

Double threes corrections are exactly what the name says, two distinct corrections that are being connected by an x wave, and this x wave is the intervening x wave that we studied on the previous sub chapter.

Such corrections are complex corrections, they fall into the category of special types of correction and they are not easy to be identified. However, they are not that rare, especially on the currency markets.

Whenever you have a double three then you should expect a powerful move in the opposite direction to come after the pattern is completed, almost always a third wave extension, but look for it to extend way more than the 161.8% level.

The recordings that come with this sub chapter deal with two examples of such a pattern, one with a zig-zag in both corrections (the first double three example) and one with a zig-zag and a flat (common flat actually) for the second double three example. They are both preceding a powerful move to the downside, in the form of a third wave, and you can see in both cases that price is traveling quite a lot and in a powerful manner after such a double three is broken.

There is also the possibility that the second three of the double three pattern to be a contracting triangle, and this is extremely confusing because a contracting triangle is not allowed to be as a second wave. However, if the second wave a double three pattern, than such a contracting triangle ends it and it should be labeled as the second correction of the pattern. Being a triangle it comes in the form of threes, so the double three is done. More details to be found on the recordings, so please feel free to watch them.

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