VERY BEARISH CASE with a rare 4th WAVE TRIANGLE pointing down
This is a rare figure but you need to be aware of it.
This usually happens after a WAVE 3 that came down quickly but did not extend.
The figure itself is a HORIZONTAL TRIANGLE pointing down where sometimes WAVE 4 goes even below the top of WAVE 3.... very BEARISH of course.
Please keep in mind that an extended 5th wave takes place quite often after a normal 3rd wave.
On this particular case, wave 3 did not extend as it failed to extend above 161.8%.
This is not the most likely scenario BUT I though it would be nice to be aware of it in case of a CRASH to 40k REGION.
This usually happens after a WAVE 3 that came down quickly but did not extend.
The figure itself is a HORIZONTAL TRIANGLE pointing down where sometimes WAVE 4 goes even below the top of WAVE 3.... very BEARISH of course.
Please keep in mind that an extended 5th wave takes place quite often after a normal 3rd wave.
On this particular case, wave 3 did not extend as it failed to extend above 161.8%.
This is not the most likely scenario BUT I though it would be nice to be aware of it in case of a CRASH to 40k REGION.