As I've mentioned on my stream, a breakdown below the current wave C low at 32933.33 just invalidates that particular triangle. There is the possibility that another triangle could be printing in that scenario as shown in this chart. Wave C could still be in progress. However, it would need to reverse prior to the wave A support at 28800. Breaking down below that level will invalidate all the triangle scenarios.
This only becomes possible if price breaks down below 32933.33.
You should never project a triangle so early. Even when an E is possibly in, it needs final confirmation. Seen it fail that many times, like it has already. Drop the expanded triangle as well. They are rare on small TF, let alone on high TF.
Chris_Inks
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@PVIII, You're kidding me with this comment, right? I am not predicting (projecting) anything. I am forecasting options/possibilities via EW with clear invalidation levels. This is one of multiple possible scenarios I have been addressing as price action has played out over the past year+. I have clearly noted what was required for this to have a chance and where it would be invalidated. As for the expanded triangle, I've noted numerous times that it is a rare pattern and that it had printed most recently on a large TF in the Dow with wave E registering during the March 2020 drop. It also printed a few decades ago in the Dow over the course of a few years. You are not adding anything to what I've already addressed. Your comment is superfluous at best and blatantly wrong at worst. Trading is all about understanding the possibilities and where the validation and invalidation levels for those possibilities sit. Otherwise you're just trying to predict, and predicting the market leads to substantial drawdown in your capital account.