medium · Elliott Wave Theory motive
A five-wave impulse in an equity index is suspected of ending with a truncated fifth wave. Wave 3 peaked at 3200. Wave 4 corrected to 2800. Wave 5 consists of five sub-waves but ends at 3150.
To measure the 38.2% retracement target for the ensuing correction, from which price level must the calculation begin?
- 3150
- 2800
- The midpoint of 3150 and 3200
- 3200
Sign up free to see the explanation and track your rank →
More Elliott Wave Theory motive practice
- In a five-wave advance, Wave 1 is 10 points long, Wave 3 is… — How should this count be co
- If Rule 3 must be satisfied, what is the highest price Wave 4 can reach?
- An analyst identifies a 5-wave pattern where Wave 4 overlaps… — Where is this pattern most
- When analyzing an Ending Diagonal, what is the 'Slope Comparison' requirement for confirmi
- If Wave 3 reaches $160.00, which of the following price levels would invalidate the impuls
- You observe a five-wave motive move in a wedge shape where W… — Where in the larger trend
- What is the 'Orthodox Extreme' in a five-wave impulse that ends with a truncated fifth wav
- If the next correction drops the price to $118 before a final rally to $180, why is this c