medium · Elliott Wave Theory corrective
A technician identifies a corrective pattern labelled W-X-Y.
If Wave W is a zigzag and Wave Y is a contracting triangle, what is the likely purpose of this 'Double Three' combination?
- To extend the correction in time rather than price.
- To mark the beginning of a first-wave extension.
- To reverse the primary trend at a Supercycle degree.
- To produce a sharp, deep retracement of the prior trend.
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