Pick a path and then wait patiently for a short entry before the first apex (in terms of shortest duration) of the three pathways to choose from.
In this case, Pathway 1 has the narrowest channel and would hypothetically be finished around this time. If that is the case, you should expect an impulsive wave down and an unmistakable trend change along with it.
If it is the more likely case that we are taking the route of either Pathway 2 or Pathway 3, then you should prepare for more mind-numbing, false-breaking action.
After watching some after-hours, i'd say its a good bet that we see selling tonight and a gap down opening tomorrow.
This would make the most sense, since the 2-wave in the impulse that emerges from this type of triangle is very small.
Basically, it wouldnt be crazy to see a gap down below the lowest low made in the triangle thus far, a very shitty attempt to close this huge gap on the Friday open, and then the real fun starts with Wave III into the weekend for what could be a very nasty weekly close.
Then China reveals their banking crisis, the US reveals their 'Infrastructure Plan", Russia reveals that they hacked both the 2016 and 2020 US elections, cryptocurrency gets pumped and then subsequently dumped again by Elon, the real US inflation numbers are revealed by accident and they are much higher than reported and the media recommends their favorite SPAC on Monday morning.
Then the stock market will really sell off.
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Think I just watched the craziest blow-off-midrange-top ive ever seen just now on the DJ futures.
Im shocked/thrilled this occurred pre-market - congrats anyone holding puts overnight on pretty much any equity deriv.