medium · Elliott Wave Theory alternation
How does a third-wave extension affect the utility of the initial base channel constructed from Waves 1 and 2?
- It typically results in a breakout of the upper base channel line
- It causes Wave 4 to underthrow the base channel line
- It ensures Wave 5 stays within the original base channel
- It prevents any overthrow from occurring later on during the Wave 5 advance
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