medium · Elliott Wave Theory ewt-core
Why is the first leg diagnostic considered the 'most important skill' in corrective analysis?
- Because a 5-wave first leg immediately eliminates flats and triangles as standalone possibilities.
- Because it confirms that an entirely new bull trend has already begun right after the bear market ended.
- Because it determines in advance whether the subsequent Wave 3 will extend sharply or truncate.
- Because it allows for the calculation of the Golden Ratio multiplier applied specifically to the X-wave.
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