From the base of wave B of the reaction from lows we had an abc
. This could only be the beginning of two things, a triangle, or an ending diagonal
, both 3-3-3-3-3 formations. the difference is that a flat, a 3-3-5 formation ending in a 3-3-3-3-3 Ending diagonal
may be either wave B or II, where a triangle formation, 3-3-3-3-3 can only be a a terminal move. As the price has moved higher, the elimination of a triangle possibility means that we may target yearly lows from this point.