medium · Elliott Wave Theory ewt-core
A fifth wave thrusts above the upper channel line drawn through waves 1 and 3 and parallel from Wave 2.
What does this 'overthrow' typically signify in the context of the impulse completion?
- A confirmation that Wave 3 is extending
- A 'running' correction that suggests the trend will not reverse
- A sign that the market is entering a Wave 4 correction
- A potential blow-off top or the formation of an ending diagonal
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