DislikedT.S. Hennessey gives another interpretation of Elliot wave theory. He asserts that in an impulse wave , the subwave 4 of the 5th must be an expanded flat.Ignored
From observation, that applies to most markets and time-frames I've come across.
Worth every bit studying his e-book. It's free anyway!
Just need an open mind, curiosity and willingness to learn.
http://newelliottwaverule.org/
Elliott Wave for optimum entry, exit and risk management of trades
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