easy · Elliott Wave Theory
An analyst sees a coiling sideways pattern with five legs (A-B-C-D-E). The first leg (A) is a five-wave impulse.
What mistake has been made in labeling this as a triangle?
- Triangles can only ever contain three legs, A, B, and C.
- The pattern should instead have been labeled a 1-2-3-4-5 impulse.
- Wave E must always be the largest leg within the entire triangle formation.
- In a triangle, every leg must be a three-wave corrective structure.
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