medium · Elliott Wave Theory
During an extended third wave in an equity index, what is the expected relationship between the volume at the Wave 3 peak and the volume at the subsequent Wave 5 peak?
- Wave 5 volume should be significantly lower than Wave 3 volume.
- Wave 5 volume should exceed Wave 3 volume to confirm the trend.
- Volume is irrelevant; only momentum divergence matters.
- They should be approximately equal if the equality guideline applies.
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