Elliott Wave Forecast Team
ElliottWave-Forecast.com
Firstly, triple three corrections are a sideways combination of three corrective patterns in Elliott Wave Theory. These corrections are one of the five types of corrective patterns that correct the completed cycle of the prevailing trend. Zigzags (5-3-5), Flats (3-3-5), Triangles (3-3-3-3-3), Double threes which are a combination of two corrective patterns previously mentioned. Then lastly a Triple three that is a combination of three corrective patterns mentioned above. That structure is the focus of this particular article.
Secondly here are some guidelines. The corrective structures are labeled as WXYXZ. They are an 11 swing structure. The subdivision of wave W, wave Y, and wave Z can be a zigzag, a flat, a double three of smaller degree, or a triple three of smaller degree. The Wave X can be any corrective structure including a stand alone triangle.
The Fibonacci ratio relationships are as follows. Wave X will retrace anywhere from 50%, 61.8%, 76.4%, or 85.4% of wave W. Wave Y can not pass 161.8% of wave W or it can become an impulsive wave three. The second wave X will retrace the wave Y in the same aforementioned Fibonacci retracement levels as it did the wave W. The second wave X structure does not have be the same structure as the first wave X. The Wave Z target area to finish the triple three correction will be a Fibonacci extension 61.8%, 100%, or 123.6% of the wave W.
The graphic below is an example of three corrective structure combinations that can form triple three corrections. In this one wave W is an expanded flat with a zigzag connector first wave X. This is followed by a double three wave Y. The second wave X connector is a zigzag. Lastly the wave Z is also a zigzag. Continued below the graphics.
The graphic below is another example of three corrective structure combinations that can form triple three corrections. In the same fashion this particular one is a double three wave W followed by the first wave X being a zigzag. Likewise as the wave W, the wave Y is a double three. This is followed by a zigzag second wave X connector. The wave Z ends with another double three. Continued below the graphics.
In conclusion. As has been noted triple threes are a combination of three corrective patterns. They can occur in either a bearish trending market or as in the illustrations shown above a bullish trending market.
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Editors’ Picks
EUR/USD consolidates above 1.1800 as trades await Eurozone CPI and US data
The EUR/USD pair struggles to capitalize on the previous day's modest bounce from the 1.1780-1.1775 area, or over a one-week low, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices currently trade around the 1.1815 zone, nearly unchanged for the day, as traders keenly await the release of the flash Eurozone consumer inflation figures.
GBP/USD consolidates ahead of Bank of England rate decision
The Pound Sterling traded in a narrow range against the US Dollar on Tuesday, edging modestly higher to near 1.3700 as markets adopted a cautious stance ahead of the Bank of England's first policy decision of 2026. GBP/USD opened the session at 1.3665 and touched an intraday high near 1.3707, with the pair consolidating below the multi-year high of 1.3869 posted in late January.
USD/JPY advances above 156.00 as fiscal, political woes weigh on JPY
USD/JPY trades with a positive bias for the fourth straight day on Wednesday and looks to build on a one-week-old uptrend above 156.00. Concerns about Japan's fiscal health and political uncertainty counter hawkish BoJ expectations, undermining the Japanese Yen ahead of the February 8 snap election, while boosting the pair. However, a softer risk tone could limit losses for the safe-haven JPY and cap the pair amid subdued US Dollar price action.
Editors’ Picks
AUD/USD holds firm above 0.7000 after China's RatingDog Services PMI
AUD/USD holds higher ground above 0.7000 in Asian trading on Wednesday, supported by the upside surprise in the Chinese RatingDog Services PMI data for January. The Aussie preserves the hawkish RBA-inspired gains, with further upside likely capped by a slight deterioration in risk sentiment.
USD/JPY advances above 156.00 as fiscal, political woes weigh on JPY
USD/JPY trades with a positive bias for the fourth straight day on Wednesday and looks to build on a one-week-old uptrend above 156.00. Concerns about Japan's fiscal health and political uncertainty counter hawkish BoJ expectations, undermining the Japanese Yen ahead of the February 8 snap election, while boosting the pair. However, a softer risk tone could limit losses for the safe-haven JPY and cap the pair amid subdued US Dollar price action.
Gold extends recovery toward $5,050 as US-Iran tensions boost haven demand
Gold price builds on the previous recovery toward $5,050 in the Asian session on Wednesday. The precious metal extends the rebound after a historic and volatile sell-off last week. Traders weigh the next round of US economic signals amid a resurgent demand for safe-haven assets and renewed US-Iran geopolitical tensions.
Why is the crypto market crashing?
Bitcoin and the broader crypto market are experiencing a heavy downturn on Tuesday amid negative sentiment following the latest tech earnings. The top crypto briefly declined more than 5% over the past 24 hours, sliding below $73,500 before quickly recovering above $75,000 at the time of publication. Over the past two weeks, Bitcoin has lost more than 23%, eroding about $401 billion in market capitalization.
Gold and silver recovery continues, but equities sink as tech is shunned
The risk recovery is on pause as we move through Tuesday. After signs that a recovery in precious metals could boost overall risk appetite earlier today, a nasty sell off in tech stocks has pushed the Nasdaq and the S&P 500 down by 1.7% and 1.1% respectively.
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