OO, got a ER-HRVHR feeling here
In a motive wave (which can be in any time scale), wave 3 is usually 162% x wave 1.
If wave 3 is small (but can't be the smallest), then wave 5 will be huge.
If wave 1 is huge, then wave 3 can be at least of equal size to wave 1 and wave 5 probably the smallest.
47c is also a 62 fib resistance, it is expected TA resistance may be found there.
Both Elliott Wave and 62 fib resistance points that 47c is a TA target for many TA traders.
These lines are not usually clear.
In this example I've used a 2h chart
Price and Chart HIO, page-5061
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| Open | High | Low | Value | Volume |
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|---|---|---|
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