medium · Elliott Wave Theory
An impulse wave features a Wave 1 of 20 points and a Wave 3 of 50 points.
If Wave 5 is currently at 25 points and shows signs of completion with a negative RSI divergence, what does the 'shortest wave' rule conclude about this count?
- The count is valid because Wave 3 is not the shortest wave
- The count is invalid because Wave 3 must be the longest if RSI diverges
- The count is valid only if Wave 4 was a triangle
- The count is invalid because Wave 5 is longer than Wave 1
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