hard · Elliott Wave Theory corrective
In a bull market impulse, Wave 1 ends at 150 and originates at 100. Wave 4 terminates at 155.
Is this count valid, and why?
- No, because Wave 4 must terminate below the price high of Wave 1.
- No, because the price gap between the end of Wave 1 and Wave 4 is not large enough.
- Yes, because the low of Wave 4 did not enter the price territory of Wave 1.
- Yes, because Wave 4 only retraced a portion, less than 100%, of Wave 3.
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