medium · Elliott Wave Theory fibonacci
Which mathematical criterion is used to formally identify an impulse wave as 'extended' relative to the other motive waves of the same degree?
- The wave must contain exactly 5 sub-waves of the next lesser degree throughout
- The wave must be at least 1.618 times the length of the next-longest motive wave.
- The wave must produce a clear negative divergence on standard momentum oscillators used
- The wave must retrace no more than 38.2% of the prior impulse wave to qualify as extended
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