medium · Elliott Wave Theory motive
What is the 'Orthodox Extreme' in the context of a truncated fifth wave in a bull market?
- The low of Wave 4, marking where the final thrust began.
- The peak of Wave 5, even though it is lower than the peak of Wave 3.
- The peak of Wave 3, since it represents the absolute price high reached.
- The point where Wave 4 and Wave 1 price territory would have overlapped illegally.
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