Consider the possibility that wave C is trying to form an ending diagonal. The move down to green 3 is wave 'a' of the decline, now trying to form wave 'b'.
Neilbob
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@kunsan, struggling to see the ED, do you mean expanding ending dia.
CryptoTA4U
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We'd have to see most indices open flat to down tomorrow for the wave count to hold up. If not, back to the drawing board.
Really hard to see how the current wave up is not a corrective wave (wave 4 as you label it). No clear impulse structure within it as far as I can see (at least not yet). So.....expecting that 2580ish line to hold tomorrow.
CryptoTA4U
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@CryptoTA4U, However, we did see the NASDAQ exceed the invalidation level (by a wick) for the similar wave count today, so maybe this won't hold up.
@CryptoTA4U, really nice looking chart. Do you really feel just ABC, and not 12345, to A
CryptoTA4U
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@Neilbob, I always start by charting the corrective sequence as A-B-C, but then modify as the correction deepens (this is at least how I was charting the BTC crash). I start with ABC looking for bounce points where C might terminate, then as the market shows more and more intense bear tendencies, I look for how this might fit into possible larger 1-2-3-4-5 down patterns.
If I start 1-2-3-4-5 down, I fear I bias myself too much. If I plot A-B-C, then see that there is no clear impulse out of C, then we can start to consider if we really actually have a 1-2-3-4-5 pattern. However, if I plot A-B-C and then after C we have a good bounce that fits with an impulse wave up, then we can consider that maybe a new 1-2-3-4-5 pattern up may start.