Thanks for that @ChrisN, I am aware of it and practice the complex retrace tracking myself too. What I was referring to was that the classic A-B-C corrective wave has the entire correction below (or above) the previous turn in my approach.
I do use the classic A-B-C (5-3-5 internal wave profile) and also the complex retrace with the 3-3-5 internals and that one can get pretty tricky. There is also a version of this that can be 3-3-3. I also use the A-E Triangle form (3-3-3-3-3) for continuation consolidations and I find it especially useful for ending channels, I had a perfect one to set up my recent Shorts on US large caps. However in all classic retrace cases (A-B-CsI do not allow the wave B to eclipse the previous motive wave high. I am aware that some EWT analysts do use this mechanism.
As a matter of simplicity I kind of reject the notion that a wave 3 (motive) top can be eclipsed by a wave B top in a retrace move. It would seem to make more sense in the classic 1-5 that the wave 3 is the peak and the next major peak would be the wave 5 but only after the retrace is completed.
This is all a matter of personal choice of course, for me creating a trading and analytical method from existing technical analysis methodologies is about selecting the aspects of several that fits your psychology and testing it to ensure it works well. A key factor is understanding when it doesn't work, one example would be where one of the more exotic EWT retrace scenarios takes place. So I am aware but I do not use it in my methodology.
Naturally I agree with your assessment of the power of the tool-sets but like anything it requires extensive study, practice and failures to learn how to use it best within the context of ones own psychology.
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