medium · Elliott Wave Theory alternation
A technician sees Wave 5 breaking below the lower trendline of the acceleration channel in a bull market.
How is this interpreted?
- As a failure of the trend and the start of a larger correction
- As a signal that Wave 4 has not yet finished forming
- As an underthrow, which still permits one final rally leg
- As an overthrow, but one occurring in the wrong, opposite direction
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