Okay, this is to answer many people who are asking on telegram & confused but I can't answer one by one so I just make an article.
The question is, the current position has risen from 102664 but has a long consolidation & many corrections also slowly have been stuck for 3 days in the same area, raising doubts about whether it is still valid?
Larger fractal structure:
Large Wave 1 🌊 74508-111,980
Large corrective wave two 🌊 111,980~100,372
✅ Current fractal structure enters large wave 3
🌊 Large Wave 3 (currently occurring)
Broken down into 5 large waves, 1 ~ upward impulse, 2 ~ correction, 3 ~ upward impulse, 4 ~ correction, 5~ upward impulse.
Broken down again to a smaller fractal currently still at the beginning just warming up;
Why I say it's just warming up because the target of 118k is really just a small part of a larger fractal if my wave count proves valid in the future.
Let's break it down;
Small wave 1 of large wave 3 starts from 100372~
Wave 1: 100.372 → 110.400 → length 10.028 points
Shallow correction area 107k ✅ has passed
0.5 retracement 50% 105386 ✅ has passed
0.618 61.8% 104197 ✅ has passed
0.786 78.6% 102539 ✅ almost hit
0.85 = 101.773
The current bottom is at 102.664 = retrace 0.768, almost hit 0.786 still within normal limits, but very deep. This is characteristic of wave two. It is deeper than wave 4 generally. So if anyone thinks this is wave 4, it is less suitable.
Now to maintain the structure of impulse wave 3 then if 102.664 is the end of the correction structure, then the validation requirement is:
Should not be lower than 100.372.
If currently there is a long consolidation, already 3 days without breaking out to 107500-110k, and we start to consider the scenario if it turns out not to be an upward impulse but a correction of an extended wave 2 for example, then whatever form of the correction extension such as double zigzag/wxyxz, it should not enter the extreme zone of 0.85 (101.773) & 0.886 101449, this usually becomes a hard limit in EWA, usually should not exceed.
In fact, if the end of the correction extension does not go deeper than 102664 then the bottom 102664 does not count as the end of wave 2 because the final bottom of wave two is always at the end of its last correction.
Remember the time of the wave correction from 105819? It briefly dropped to 102640 which was considered the bottom then rose to 107k breaking the previous wave peak but still within the correction structure, then fell very quickly to 102 (pump & dump) institutions, which took brutal profits?
Then I said that this is the result of an additional correction and the last correction actually stopped at 104184 before making a new ATH 111,980. The structure from WXY becomes WXYXZ. X2 is 107k and Z ends at 104184
Thus, if the current case is still a correction then the depth of wave 2 becomes shallower. This actually strengthens the new impulse structure and becomes the starting point for the next wave 3.
The invalidation point is at 100372. If it breaks, it cancels the continuation of the impulse. Because of the Elliott wave rule; for Wave 2 it remains valid — which is that it should not retrace too deeply against Wave 1, and should not break below the start of Wave 1 (i.e., 100.372). If this is indeed in an upward impulse, then this correction is an internal correction within subwave1. Although with the length of the current movement I am starting to consider that this is still within the extension of wave 2.
For the next impulse validation, it must break 106252-107500-108000 as the start of the impulse and must break 110400 or the previous small wave 1 peak for validation of the large wave 3.
That's it. Please use it for the next wave study independently. Hope it is useful