hard · Elliott Wave Theory
An analyst is constructing a 'Confluence Zone' for the end of Wave 4.
Which of the following data points would be most appropriate to include in this cluster?
- The 1.618 Fibonacci extension of Wave 1 and a full 100% retracement level of Wave 2
- The 2.618 extension of the Wave 4 channel width, projected from Wave E of the prior triangle
- The apex of a previous triangle pattern together with the 61.8% retracement level of Wave 1 itself
- The 38.2% retracement of Wave 3 and the price range of the prior wave iv of one lesser degree
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