TRUNCATED FIFTH WAVE/ TRIPLE TOP
Truncation when described by Elliott used the term « failure « , truncation can be good indication of a trend reversal that is determining the end of a trend an Elliottian can describe this situation as a « TRUNCATED FIFTH WAVE » while a price action trader makes mention of it as « TRIPLE TOP ».
Below are the common factors/ setup determining reversal
• Rising channel
• TRUNCATION/ SWING FAILURE/ DOUBLE OR TRIPLE TOP
Below are the common factors/ setup determining reversal
• Rising channel
• TRUNCATION/ SWING FAILURE/ DOUBLE OR TRIPLE TOP
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