We are in wave 3 black, of Wave(5)pink, of Wave violet,
of Wave III blue....
ie: 3 of (5) , of of III as labeled & list shown above.
The of the Minor wave shall be shown in
a separate view, will have many internal waves in
minute, minuette and subminuette levels.
We may be at the end of a minute wave 1 (not shown here) in a minor wave 3 (up to the black label shown above), Please Don’t get confused, Which I will post it later in the updates for a close up look .
Please watch for the updates here.
wave 4 can be of 38% ,50 % 0r even 62 %. Note that , why the rule says it shall not enter in to the are of wave 2.
And about the alternation rule, it is very obvious that the pattern and the complexity is different from one another,
for more details, we have to go in to the sub waves.
If you have any valid point of disagreement please put it in the details,and we will study that.
i red somewhere that,although these are quoted as rules, Elliott himself in his original writing never referred to these as strict rules, he used phrases like "should and rarely" etcto describe them. As such, the label of Elliott wave rules was probably added in later years in an attempt to make the principle less ambiguous and more structured and exact.
I think the market condition at that time made it deeper for wave 4. how can we assume that the mass behaved in anticipation of a far future scenario , like a forth coming extended wave 5...ok
your assumption may be right, wve3 is extended here. So wave 5 could be equal wave 1.