hard · Elliott Wave Theory corrective
A trader is monitoring a potential Wave 2 pullback. Wave 1 was a rally of 100 points. The correction drops 65 points in five waves, then rallies 35 points in three waves.
If a final five-wave drop of 65 points occurs, how should the trader view the overall structure?
- A completed 5-3-5 Zigzag that retraced 95% of Wave 1.
- The start of a new bear trend (Waves 1-2-3).
- An invalid Wave 2 because it retraced more than 61.8%.
- A Regular Flat correction terminating near the origin.
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