medium · Elliott Wave Theory corrective
An analyst is looking at a bearish Wave B triangle. Wave A is 25 points wide. Wave E ends at 185. A sharp move begins but reverses after reaching 170.
How should this price action be interpreted?
- The market successfully reached its projected target based on the Wave C amplitude alone
- The reversal at 170 confirms that the prior triangle pattern was actually a flat correction in disguise
- The thrust target was 160, and the reversal suggests the thrust was incomplete or the count was wrong
- The thrust target was 170 because Wave D amplitude, rather than the correct Wave A amplitude, was 15 points wide
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