red 5 targets estimated at 24500 (unless red 5 extends ~31K)
the 423.6% ratio seems to be important. see the cycle I. if history repeats we should top at the red line (depending on where primary 3 and primary 4 end of course)
if this is wave 4 triangle then we should expect a thrust in the direction of the main trend once it ends (red 5). this is how market behave
the channel is meaningless in elliott wave analysis because it is adjusted to accommodate any extra sideways move wave 4 is making... eg wave e may appear to break the trend but that is a false break since we know what comes after red 4
at the time that was just a guess since there was no data to work with. i was just mainly showing there is a cycle III coming! somehow people didn't even consider this a possibility
in my daily chart, i only see waves 1,2,3 complete and currently wave 4 is unfolding. i have to go with what i see. that's all one can do.