medium · Elliott Wave Theory motive
An ending diagonal completes at 500 after a 10-month grind from 400. Two weeks later, price is at 420.
How does an institutional Elliottician grade the strength of this count?
- Invalid; a sharp reversal should not stall before reaching the origin
- Strong; the move has retraced 80% of the range in 5% of the time
- Moderate; the move is impulsive and should be labeled Wave 1
- Weak; the move should have reached 400 within 48 hours
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