If Point C is violated to the downside, the pattern is void. If Wave 4 does not fully develop with subwave E in the Triangle, meaning that it just breaks (perhaps by the time you read this) to the upside, then it may still be a great trade, but it's not the pattern we are looking for. If it turns out to be a great trade without pattern completion, no worries, we'll find a great spot to get in along the way.
The original buy option (above 1777) is still valid. However, if you believe in the alternate plan, you can enter above 1617.
A word on stops. The chart below is updated to show the triangle wave count for the alternate plan, which proved to be the correct one. Both Point C and the blue support trendline are a long way down, and the risk is pretty steep. So I added a new option for a stop just under 1447.60. With Wave 5 in progress, BCH has no business coming back to that point. Use the stop that is suitable for your risk parameters.
There will be updates as required based on new information.
Based on your own tolerance for risk tolerance and 'need to protect the money', you can take profits or set a trailing stop. There is no right or wrong answer here.
One idea for a trailing stop would be just underneath the low of the day at 2663, on the theory that If the market is going to continue up, it should not make a new daily low (albeit this is the same day).
If the market does continue to correct off of the current 3676 high, the I suggest we monitor the correction and I'll post a re-entry when one becomes clear. For those that have taken profits that will be an opportunity to re-enter to catch the potential move to the 2nd target. For those who rode out any correction, the re-entry opportunity can be used for an add-on to increase their profits going into the 2nd target.
Cryptos across the board are making a correction now, so we'll monitor this correction and advise of a new buy opportunity in BCH as market conditions warrant.