Structure

• 3-3-5 internal structure
• Alternation also is common in the 3 waves of Waves A and B in the flat. WA and WB alternate between a Zigzag and Flat.
• The most common structure is that WA and WC demonstrate equality.
• Regular Flats -- The typical structure of a regular flat is that Waves A, B, and C are close to equal lengths. Wave C is 5 waves and normally will be steeper than wave A.
• Expanded Flats --  Wave B will result in a new price extreme beyond the origin of WA.  However, just because the structure is tight with previous W5 high do  assume that the following W5 will be shallow.
• Running Flats -- Wave C does not travel the full expected extent, but stops short and reverses strongly.
• In a Flat, WA is expected to be steeper than WC.

Retracement

• Regular Flat - Wave B will retrace 90% to 105% of WA. If greater than 100, it is an Expanded Flat. Wave C will travel about the same distance as WA. If you see 5 waves and a reversal before 90% don't try to force the Flat interpretation, it is likely wrong. Wave C can be an Ending Diagonal.
• Expanded Flat - Wave B will retrace up to 1.382 of WA. It can be shorter or longer, but beyond 1.5 favors a different wave interpretation.  Wave C of an explanded flat typically extends to 1.382 of WA.
• Running Flat - Wave C, while still consisting of 5 waves is cut short (think truncation) and reverses direction causing a very strong move in the opposite direction.

Prediction

• Flats generally show that the market continues to maintain a bullish or bearish attitude to the point that they are not interested in strongly correcting the trend.  After the correction you can expect a decent move.
•  Note that when W2 is an expanded flat, you can pretty well count on W3 to achieve a 2.618 multiple of W1.  Expect bigger moves after flats.