WaBi (WABI) Analysis: Correction Likely Not Complete Before a Lower Low

SUMMARY

The genesis drop in WaBi as shown in the below chart indicates that this whole chart thus far is best read as an ABC (red) correction. This would then require that red wave C complete with a lower low.

The subwave count marks the decline as a triple combination wxyxz (blue) and the final abc subwaves of Z is expected to generate a slight lower low than circled red A.

The only scenario that would NOT require a lower low is if the correction is a WXY double combination and the blue Y is marking out a triangle pattern making it complex combination. Regardless of the pathway, both have the same destination, should a breakout occur. Would this be considered the terminal end of a correction? Should one be taking buyin or selling actions at such a stage?

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