Red wave 1 = 5 waves within. Met E.wave criteria. i.e Wave 3 longest, Wave 4 does not touch Wave 1.
Red wave 2 = 3 waves of ABC.
Red wave 3 (Prediction) = 1st wave up (completed and visible 5 waves using lower TF). 2nd wave corrected by abc (Price divergence observed at daily TF). High possibility of projecting into 3rd wave. Ideally with good RR (with SL below low of Red wave 2 or low of Impulse wave).