hard · Elliott Wave Theory
Consider an 'Ending Diagonal' in a fifth-wave position. If the analyst identifies a 'throw-over' where Wave 5 briefly penetrates the upper trendline on declining volume before reversing, how is the 'Orthodox High' determined?
- The high of Wave 3.
- The midpoint of Wave 5.
- The price level of the trendline at the time of completion.
- The point where Wave 5 penetrated the trendline.
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