medium · Elliott Wave Theory fibonacci
Wave 5 of a rally ends at 158 after Wave 3 peaked at 165 (absolute high).
If an analyst calculates a Fibonacci retracement of the entire impulse from the origin at 100, which level is the 'Orthodox High' for their calculation?
- 158
- 131.5 (the midpoint).
- 165
- 163.10 (0.618 between 158 and 165).
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