medium · Elliott Wave Theory fibonacci
According to the 'Guideline of Depth,' where is a Wave 4 most likely to terminate if the preceding Wave 3 was an extended move?
- Right at the absolute price high previously set by Wave 1 of the sequence
- The price range of the prior fourth sub-wave of one lesser degree.
- Precisely the 61.8% Fibonacci retracement level measured off Wave 3
- Back at the original starting origin point of Wave 1 itself
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