medium · Elliott Wave Theory complex
While analyzing a correction, a practitioner notices that the market has completed a zigzag, followed by a 3-wave recovery (X-wave) that retraced only 35% of the zigzag. The market then begins another 3-wave sideways structure.
How should the total structure be labeled?
- An extended motive wave.
- A truncated fifth wave.
- A double combination (W-X-Y).
- A double zigzag.
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