Here is a the potential classic wave 4 formation. This should thrust down out of the triangle and then bottom and reverse if the assessment is correct. In a classic triangle, each subsequent wave should not exceed the path of the previous wave. and the triangle itself should not at anytime exceed the previous wave 5 termination. There are numerous other triangle-like formations possible however this is the most common one to appear in the wave 4 position.
Note
Well... that pattern was not a developing triangle... NextNote
This wave did not act as a classic triangle but represents a possible wave 4 non the less. But I still missed it.Note
This played out as a wave 4 - Just not a classic shape. Moved sharply down and now appears to have bottomed temporarily
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.