hard · Elliott Wave Theory
During a 5-wave rally, an analyst notes that Wave 1 and Wave 3 are equal in length.
According to Elliott Wave guidelines, what should be expected for Wave 5?
- Wave 5 must be shorter than Wave 3 to satisfy Rule 2.
- Wave 5 will be a Truncated Fifth to compensate for the strength of the previous waves.
- Wave 5 is likely to be the extended wave, potentially reaching a 1.618 multiple of the net distance of Waves 1 through 3.
- Wave 5 will be equal in length to Wave 1 and 3.
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