hard · Elliott Wave Theory alternation
Wave 5 pierces well above the upper parallel channel line drawn from the Wave 2-4 baseline before finally topping.
What does this throw-over most reasonably suggest to an Elliott analyst?
- A final burst of public participation, often marking the impulse's true end nearby
- That the wave count is invalid because price must stay inside the channel
- That Wave 5 is actually Wave 3 relabeled, since only Wave 3 can exceed the channel
- That the chart must be rescaled to logarithmic before any target has meaning
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