medium · Elliott Wave Theory
An analyst is reviewing a rally with the following swing counts: 13 total swings have been identified.
Based on the Fibonacci-derived swing count series, what does this indicate about the impulse structure?
- It is a valid impulse containing an extension of an extension (or two extended waves).
- The count is invalid, since impulse waves must consist of only 5 or 9 swings total.
- The market must be a leading diagonal, since standard impulses cap out at 9 swings.
- The structure instead represents a triple-three combination correction pattern.
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