I have seen before a huge lack of atention in what i think must be one of the toral rules of elliott wave's principle and is the one that states: If supposed wave 4 overlaps the end of wave 1 means other pattern is underway.
Here are a clear example that ilustrate the importance of attend this rule:
If we "let" the wave 4 overlap the 1, we can say here that we could count as wave iii)) where i placed the wave i) (one lesser degree) and wave iv)) where my count says ii). But due the observance of the rule I assume that the wave is extending therefore expect a longer wave iii)) pointing at 261.8% of extension of price traveled in wave i)).
Here are a clear example that ilustrate the importance of attend this rule:
If we "let" the wave 4 overlap the 1, we can say here that we could count as wave iii)) where i placed the wave i) (one lesser degree) and wave iv)) where my count says ii). But due the observance of the rule I assume that the wave is extending therefore expect a longer wave iii)) pointing at 261.8% of extension of price traveled in wave i)).