medium · Elliott Wave Theory corrective
An analyst is looking at a corrective pattern labeled A-B-C-D-E. Each leg is a 3-wave sequence, and the price highs are roughly horizontal while the price lows are progressively rising.
What is this pattern and what is the thrust target if Wave A was 150 points wide?
- Ascending Triangle; target is 150 points above the horizontal resistance.
- Leading Diagonal; target is 300 points above the origin of Wave 1.
- Contracting Triangle; target is 75 points above Wave E exit.
- Descending Triangle; target is 150 points below the E-wave, the opposite bias.
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