hard · Elliott Wave Theory
In a bull market, Wave 2 was a deep zigzag that lasted 3 weeks and retraced 61.8% of Wave $1.
According to the Guideline of Alternation, what should an analyst expect for Wave 4?
- A double zigzag that retraces 78.6% of Wave $3.
- A fifth-wave failure followed by a deep crash.
- A sideways flat or triangle retracing 38.2% of Wave 3 and lasting longer than 3 weeks.
- A sharp zigzag retracing 61.8% of Wave 3 lasting 3 weeks.
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