medium · Elliott Wave Theory
What is the 'Orthodox Extreme' in the context of a truncated fifth wave in a bull market?
- The low of Wave 4, where the final thrust began.
- The peak of Wave 5, even though it is lower than the peak of Wave 3.
- The peak of Wave 3, because it is the absolute price high.
- The point where Wave 4 and Wave 1 would have overlapped.
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