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Impulse Wave Truncation (Truncated Fifth) -
Truncated 5th wave is when the market has become so over-extended in Wave 3 that there is not much force left for the impulse wave to come to a proper completion. So when this happens, there is a chance that the last wave of the impulse, Wave 5, will not reach the end of Wave 3 before the market starts correcting in the opposite direction. At this point, the market is just too exhausted. This condition is often called a “failure” or a “Truncation.”
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Truncated 5th wave is when the market has become so over-extended in Wave 3 that there is not much force left for the impulse wave to come to a proper completion. So when this happens, there is a chance that the last wave of the impulse, Wave 5, will not reach the end of Wave 3 before the market starts correcting in the opposite direction. At this point, the market is just too exhausted. This condition is often called a “failure” or a “Truncation.”