hard · Elliott Wave Theory complex
A market decline from 800 to 700 is labeled Wave W. It is followed by a rally to 740 with a clear three-wave internal structure.
If an analyst labels this rally as an 'X-wave', what is the most likely structural expectation for the next move?
- A second corrective pattern (Wave Y) will begin, likely dropping below 700.
- The rally will accelerate into a new impulse trend toward 900.
- The market will enter a long-term sideways consolidation between 700 and 740.
- Wave W will be re-labeled as a Wave 1 impulse due to the shallow retracement.
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