medium · Elliott Wave Theory alternation
When applying the Guideline of Alternation in an impulse where Wave 1 has extended, how should an analyst anticipate the scale of Wave 4?
- Wave 4 must be exactly 1.618 times as long as Wave 2 in every scenario.
- Wave 4 should be proportional to the non-extended Wave 2 in price and time.
- Wave 4 will always unfold as a sharp zigzag correction whenever Wave 2 was a flat.
- Wave 4 should fully retrace the entirety of the extended Wave 1.
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