To identify a top, one must first confirm that the upward move is finished. According to Elliott Wave theory, a bull market cycle consists of a five-wave motive phase (Waves 1, 2, 3, 4, 5) followed by a three-wave corrective phase (A, B, C). A "Top" is technically defined as the termination point of Wave 5.
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: A senior analyst at Elliott Wave International (EWI) since 2013. A significant part of Marat’s branding hinges on
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