medium · Elliott Wave Theory ewt-core
A market exhibits a 'coiling repetition' where three successively smaller flat corrections occur, each with a three-wave rally that fails to break the previous peak.
What does this heuristic suggest about the next impulse move?
- The next move will likely be a truncated, exhausted fifth wave.
- The next impulse wave is likely to be a massive extension
- The market has permanently reversed into a new long-term bear trend.
- Wave 3 must be the shortest wave in the sequence.
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