hard · Elliott Wave Theory Rule of Alternation & Channeling Guidelines
Wave 4 forms well short of the lower parallel channel line drawn from the Wave 1-3 trendline and its Wave 2 offset.
According to the channeling guideline, what does this undershoot suggest about the coming Wave 5?
- Wave 5 is likely to be weak and may itself fall short of the upper channel line
- Wave 5 is now guaranteed to throw over the upper channel line strongly
- The count is invalidated, since Wave 4 must always touch the channel line
- The channel must be rebuilt using Wave 3 and Wave 5 instead of Wave 1 and Wave 3
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