easy · Elliott Wave Theory
An analyst observes a five-wave impulse where Wave 1 is 120 points, Wave 3 is 95 points, and Wave 5 is 110 points.
Why must this labeling be revised?
- Wave 1 is longer than Wave 3, which is prohibited.
- Wave 2 must always be shorter than Wave 4.
- Wave 3 is the shortest of the three motive legs.
- The fifth wave failed to extend beyond Wave 1.
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