medium · Elliott Wave Theory motive
An analyst identifies a 5-wave pattern where Wave 4 overlaps the price territory of Wave 1. Every internal sub-wave (1, 2, 3, 4, and 5) is found to be a 3-wave structure.
Where is this pattern most likely located?
- Wave 4 correction inside a larger cycle-degree impulse
- Wave 3 of an extended, trending impulse
- Wave 5 of an impulse or Wave C of a correction
- Wave 1 of an impulse or Wave A of a zigzag
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