Hypo 2 : 1H : Triple Zig Zag for W.4 down :
If we see sideways move here then that would signify Hypo 2, whereas straight down from current level means Hypo 1 is the scenario, overall more downside is expected.
Hypo 1 : Updated :
Hypo 1 : 15 min. : Moving in W.(3) of W.iii down, Target 1 already achieved, SL should be moved lower :
Hypo 2 : About to achieve T1 :
Considering this new probability visible as Hypo 1 keep strict stops at 2931.9 :
H1 : If this market goes above 2942 then that would mean that W.v of W.iii) is continuing as an Ending Diagonal.
H2 : On the other hand if we see a break below the Cyan channel straight from here then that would mean that we are in a W.iv) Flat type of correction.
In case of H1, we will look for the Ending Diagonal to complete and then go short, in case of H2 the best strategy would be to wait for the completion of W.iv) and then go long for W.v) :