Let’s hope the long-awaited downward impulse wave C is finally approaching. Ideally, we've already seen the peak of wave B and its duration is complete.
Looking at the broader structure, we're still within WAVE B, which has significantly overextended both in price and duration. This prolonged upward correction has pushed prices beyond the previous wave, forming an expanded structure—turning the expected downward impulse into a delay.
This expanded wave B appears to be a false breakout relative to the previous Elliott wave pattern. So, it would make sense if we start seeing signs of a downward move soon to correct the overextended rise. This could start with a minor upward retracement (which is normal), followed by a strong impulsive drop.
Let’s hope we get confirmation soon that wave B has truly peaked—rather than it continuing to toy with us.
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