medium · Elliott Wave Theory
An impulse wave is unfolding. Wave 1 moves 20 points, Wave 2 retraces 10 points. Wave 3 moves 35 points. If Wave 5 moves 30 points, is this a valid Elliott impulse? Why or why not?
- No, Wave 5 is longer than Wave 1, which is prohibited.
- No, Wave 3 must be the longest wave.
- No, the second wave retraced 50%, which is too shallow.
- Yes, all cardinal rules are satisfied.
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