Trying to work out potential ending areas for this final 5th.
In the EWP book it says, "A triangle always occurs in a position prior to the final actionary wave". We're in that prior actionary wave now. Another quote, "when a triangle occurs in the fourth wave position, wave five is sometimes swift and travels approximately the distance of the widest part of the triangle." Widest part of the triangle gives us 5140. Wave 3 low gave 5135, so maybe a little further to go.
The very first 5 waves from the top 5601 was 172pts. If 1 = 5 we get 5111 for a wave 5 finish. If 1 = 5 from todays wave 1 (8am-12pm) we get 5123.
61.8 of wave 3 = Wave 5 to be 5119
So that area of 5111-5123 ill be looking for wave 2 to begin. MACD histo, momentum and RSI all show divergences nw on 8hr so we havent long to go imo
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