We have just completed our Elliot Cycle from 340 to 391 and now are experiencing a retrace in progress from this peak(5 up), expecting 3 down, a dip to 370, bounce to 380, then ultimately 360 which is 38.2% and very critical to keep the momentum going.
Comments
Nuseii
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Can indeed go down more than 3 levels, but has to bounce off the third. A pierce through 3rd is ok as shown here.
Nuseii
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Proven Invalid, Third Cycle indeed has to be the largest.