Her we have a Contracting Triangle that will possibly give the Bears a chance to take Charge , notice that Price descended below the bottom trend line and then came straight back up for a retest , if Price closes below the Lower Low now then it is possible for Price to continue being Bearish.
Here is a very good example of a Wolfe Waves which can also bee seen as ABCDE patterns with the 1-4 Line being used as Target points for possible corrections ,now if we hit that 98.00 area then that will be a new Bearish Wolfe Wave with possible target points on the descending side .
Here is a Offset Wolfe Wave that Failed at point 5 , once Price closes higher than Point 5 then you either Buy or wait for a better place to place your trade , in this case i was also following the Elliott Wave Count that kept me being a Bull as you can see there is now a possibility of a Correction , i will update the chart on a Lower time frame in the next week...
Here i am looking a few possible situations that will possibly pin point the completion of an Elliott Wave 5 Wave.
Here is also most likely a Ending Diagonal marked in Minor Wave Count (i) to (v).
Also notice the Wolfe Wave that i have marked and that is also just a Short term and lower time frame Trading possibility .
Here is a Bullish Elliott Wave Wedge Pattern , for all technical reasons you can wait for the Breakout and take advantage of the Correction but you can also look at getting Involved at Point E with a low Risk Reward .
Please trade your own Rules and your own plan .
Trade what you see.
Watch the video on ABCDE Pattern