medium · Elliott Wave Theory
After a completed five-wave impulse, a rally occurs that retraces 40% of the move in a choppy three-wave fashion. The market then resumes the trend and breaks to a new extreme.
How was the rally most likely classified?
- Wave B of an Expanded Flat.
- A complete Zigzag.
- Wave 1 of a new impulse.
- An X-wave in a combination.
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