medium · Elliott Wave Theory
An ending diagonal completes at 500 after a 10-month grind from 400. Two weeks later, price is at 420.
How does an institutional Elliottician grade the strength of this count?
- Invalid; a sharp reversal should not stall before reaching the origin
- Strong; the move has retraced 80% of the range in 5% of the time
- Moderate; the move is impulsive and should be labeled Wave 1
- Weak; the move should have reached 400 within 48 hours
Sign up free to see the explanation and track your rank →
More Elliott Wave Theory practice
- In a five-wave advance, Wave 1 is 10 points long, Wave 3 is… — How should this count be co
- A commodity price moves from $80 to $96, pullbacks to $88, t… — If an analyst identifies t
- Which is more likely?
- According to the Swing Count Validation technique, what should the trader conclude?
- Based on common Fibonacci relationships, how far might Wave C drop from the end of Wave B?
- An analyst sees a 'Close-Below-Prior-Swing Test' fire when p… — What does this likely sign
- According to the 'Fourth-Wave Target Zone' guideline, where is a correction most likely to
- According to the Guideline of Alternation, what should you expect for Wave 4?