I noticed something that has me a little confused and needs a little clarification. I placed (???) next to what I’m confused about.
In the Summary of the Elliot Wave Theory (section), the following is noted:
A trending market moves in a 5-3 wave pattern.
—The first 5-wave pattern is called impulse wave.
—One of the three impulse waves (1, 3, or 5) will always be extended. (Wave 3) is usually the extended one. (???)
But in the Impulse Wave portion of the same section, the following is noted
Extended Impulse Waves
One thing that you also need to know about the Elliott Wave Theory is that one of the three impulse waves (1, 3, or 5) will always be “extended.”
Simply put, there will always be one wave that is longer than the other two, regardless of degree.
According to Elliott, it is usually the (fifth wave) which is extended. (???)
So my question: Is Wave 3 or 5 usually the extended wave?
