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The term "zigzag correction" refers to a specific organizational pattern observed within price corrections that is characterized by a sharp and quick movement followed by a retracement. In the context of Elliott Wave Theory, a zigzag is a three-wave structure (typically labeled as A-B-C) where wave A moves in the opposite direction of the trend and then is followed by a corrective wave B before a continuation in the original trend occurs with wave C.

A zigzag correction is distinguished by its sharp nature and the fact that it typically makes a relatively deeper retracement than other types of corrections, which allows traders and analysts to identify potential reversal points and changes in market sentiment. This concept is particularly useful for understanding how price movements behave within larger trends and can aid in forecasting future price behavior.

The other choices, while related to price movements, describe different concepts. A pullback generally refers to a temporary retreat in an upward trend, consolidation indicates a trading range where prices move sideways without strong upward or downward momentum, and reversal implies a complete change in the trend direction rather than a specific corrective pattern. Thus, the uniqueness of the zigzag correction allows it to stand out as a focused term describing a certain type of price correction in technical analysis.