medium · Elliott Wave Theory motive
What is the 'Orthodox Extreme' in a five-wave impulse that ends with a truncated fifth wave?
- The absolute price high recorded during the preceding Wave 3 of the impulse.
- The peak of Wave 5, even if it is lower than the peak of Wave 3.
- The calculated midpoint between the Wave 3 and Wave 5 price peaks.
- The beginning point of the subsequent Wave A correction.
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