Markets may test the upper boundary of the expanded triangle abcde. This happens frequently but is not a norm. Presently big possibility of same. Therefore we MAY see another rise of 100-200 points before the previously mentioned correction unfolding, CORRECTING THE IMPULSE WAVE WHICH COMMENCED FROM 16830 OR SO. .
INDECISIVE WAVE “E” OF THE EXPANDED TRIANGLE
In Elliott Wave Theory, an expanded triangle is a specific type of corrective pattern that occurs within the context of a larger impulse wave. It is formed by a series of five waves labeled a,b,c,d and e When wave 5 is ending in an expanded triangle, the last wave, wave “e”, typically exhibits certain characteristics. Wave “e” is known as the terminal wave of the pattern, and it often tests the upper boundary multiple times before reversing its direction. The multiple tests of the upper boundary in wave “e” are a key feature of an expanded triangle. The market tends to approach the upper boundary of the pattern with less conviction and momentum compared to the earlier waves. As a result, the price may struggle to break above the upper boundary and may reverse or consolidate near that level.This behavior is attributed to the inherent nature of corrective patterns in Elliott Wave Theory. Expanded triangles are complex formations that reflect market indecision and a struggle between buyers and sellers. The repeated testing of the upper boundary in wave E represents the market’s uncertainty and the ongoing battle between bullish and bearish forces.