Sideways correction:
is the most difficult of the Elliott wave patterns to forecast (a priori).
why?
because:
1- prices reverse higher, many see as a resumption of the now long-gone bull market.
2- time-consuming!
Sideways correction = 38.2% of the previous "impulse" wave.
E.g. (Wave X = 38.2% of wave 5)
Sideways correction= Wave X.
Sharp corrections:
they are always fast and furious.
Sharp correction = either 50% of the previous wave or 61.8% of the previous wave.
E.g. (Wave 4 = 61.8% of wave 3)
Sharp corrections = Wave 4, wave W and Wave Y
