The complex corrections are well known by most traders, as a very tricky trading situation. Finally, it all comes to a time- or a price-consuming structure, whose formation was already partially planned by the nature of the prior impulsive pattern associated with the current market intervention caused by eventual news or events.
The four elements of the complex corrections that have their importance will be: the type and behaviour of the past impulsive pattern, the finished structure (s) of the first or second simple corrective pattern, the nature of the first and the second linking wave X, the current forecasted termination level and the degree of pattern complexity (double or triple three patterns).
The first correction will give us a kind of a flavour of the entire future complex correction. In order to build any type of correction patterns (simple or complex), the market uses the time- or price-consuming factors.
As a price-consumption correction example, we will only mention the correction, which will follow after a failed impulsive wave structure or a wedge-type impulsive pattern (ending diagonal triangle wave W5). There will be frequently followed by a high-steamed opposite corrective momentum, responsible for a probable double zigzag or at least a simple zigzag, but with an extended (or elongated) devastating wave C.