medium · Elliott Wave Theory
A bull impulse reaches a Wave 3 peak at 165.00 (the absolute high) but then produces a truncated Wave 5 that ends at 158.00.
If an analyst wants to calculate the 38.2% Fibonacci retracement for the ensuing correction, from which level should they measure?
- 158.00
- 161.50
- The price level where the Wave 5 internal structure looks most complete.
- 165.00
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