medium · Elliott Wave Theory alternation
A Master Technician is evaluating a potential extended Wave 3. Wave 2 was a sideways regular flat.
According to the Guideline of Alternation, what should the technician look for to confirm a Wave 4 bottom?
- A converging wedge whose sub-waves are simple 3-wave legs.
- A slow, time-consuming expanded flat that whipsaws most participants.
- A sharp, quick price drop that tests the 38.2% retracement level.
- A five-wave decline whose fourth sub-wave clearly overlaps the territory of Wave 1.
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