As you can see, we have two triangles a bigger one in red and a smaller one in black. If we bounce off the smaller one than we were dealing with a smaller degree b wave and we should go to 8.5 if we bounce off the bigger triangle we are dealing with a larger degree b wave and we should expect 12ish.
Note
Keep in mind we are dealing with triangles and the e wave doesn't have to touch the bottom trendline, it can be truncated. In fact, we could be out of the triange rn
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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.