Corrective Patterns
Corrections are very hard to master. Most Elliott traders make money during an impulse pattern and then lose it during the corrective phase. An impulse pattern consists of five waves. A corrective pattern (with the exception of the triangle pattern) consists of 3 waves. An Impulse pattern is always followed by a Corrective pattern. Corrective patterns can be grouped into two categories:
Simple Corrections
Complex Corrections
Simple Corrections
There is only one pattern in a simple correction. This pattern is called a Zig-Zag correction. A Zig-Zag correction is a three-wave pattern in which the Wave B does not retrace more than 75 percent 
Wave B = Usually 50% of Wave A Should not exceed 75% of Wave A.
Wave C = 1 x Wave A or 1.62 x Wave A or 2.62 x Wave A.
of Wave A. Wave C will make new lows below the end of Wave A. The Wave A of a Zig-Zag correction always has a five-wave pattern.In two of the three types of complex corrections (Flat and Irregular), the Wave A has a three-wave pattern. Thus, if you can identify a five-wave pattern inside Wave A of any correction, you can then expect the correction to be a Zig-Zag.
Complex Corrrections (Flat, Irregular, Triangle)
The complex correction group consists of 3 patterns:
Flat
Irregular
Triangle
Flat CorrectionIn a flat correction, the length of each wave is identical. After a five-wave impulse pattern, the market drops in Wave A. It then rallies in a Wave B to the previous high. Finally, the market drops one last time in Wave C to the previous Wave A low. formation. 
Irregular Corrections
In this type of correction, Wave B makes a new high. The final Wave C may drop to the beginning of Wave A or below it.
Fibonacci Ratios in an Irregular Wave
Wave B = either 1.15 xWave A or 1.25 x Wave A.
Wave C = either 1.62 xWave A or 2.62 x Wave A.
Triangle Corrections
In addition to the three-wave correction patterns, there is another complex corrective pattern that appears time and time again. It is called the triangle pattern.The Elliott Wave Triangle approach is quite different from other triangle studies. The five sub-waves of a triangle are designated A, B, C, D and E in sequence.
Triangles are, by far, most common as fourth waves. One can sometimes see a triangle as the Wave B of a three-wave correction. Triangles are very tricky and confusing. One must study the pattern very carefully prior to taking action. Prices tend to shoot out of the triangle formation in a swift thrust.
When triangles occur in the fourth wave, the market thrusts out of the triangle in the same direction as Wave 3. When triangles occur in Wave Bs, the market thrusts out of the triangle in the same direction as the Wave A.
The Alteration RuleIf Wave 2 is a simple correction, expectWave 4 to be a complex correction.If Wave 2 is a complex correction,expect Wave 4 to be a simple correction.