medium · Elliott Wave Theory motive
A 'Leading Diagonal' occurs in the Wave 1 position. If the diagonal range is 370 pips (1.0500 to 1.0870), what is the expected target zone for the subsequent Wave 2 correction?
- 1.0400 (a 127.2% overshoot).
- 1.0500 (a 100% retrace).
- 1.0579 to 1.0641 (61.8% to 78.6% retrace).
- 1.0720 to 1.0780 (23.6% to 38.2% retrace).
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