medium · Elliott Wave Theory
An analyst is looking at a bearish Wave B triangle. Wave A is 25 points wide. Wave E ends at 185. A sharp move begins but reverses after reaching 170.
How should this price action be interpreted?
- The market successfully reached the target based on Wave C amplitude
- The reversal at 170 confirms the triangle was actually a flat correction
- The thrust target was 160, and the reversal suggests the thrust was incomplete or the count was wrong
- The thrust target was 170 because Wave D amplitude was 15 points
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