In a perfect world we continue to see a fractal growth of waves here, which could see a deep retracement lower here before any real strength comes in.
Keep in mind the waves shown aren't claiming any price or time specifically, but instead require move lower in fractals/timeframes/zooming in to calculate the sub-waves of the move you're expecting at any given time. These are simply and generally laid by "eye-balling out" the harmonic geometry for that expected wave, which is where the more specific rules for entry come in as you're counting the waves.
Perhaps the most annoying or tedious part of wave theory is that there is always the potential for multiple different shapes/structure/geometry that wave can come in, so you need to drop lower in fractals and clock the sub-waves. When the sub-waves complete, you manage risk accordingly for a clear targeted entry... the lower in fractals you go, the more precision is seen. For example if you're able to count the completion of waves on the hourly chart and enter, your risk or stop loss will need to be a larger amount than if you were to continue lower from the hourly and find the intraday entry. Allowing you to manage risk with a intraday move and if done correctly will target hourly, daily, weekly, monthly, yearly targets if you so choose.
Keep in mind the waves shown aren't claiming any price or time specifically, but instead require move lower in fractals/timeframes/zooming in to calculate the sub-waves of the move you're expecting at any given time. These are simply and generally laid by "eye-balling out" the harmonic geometry for that expected wave, which is where the more specific rules for entry come in as you're counting the waves.
Perhaps the most annoying or tedious part of wave theory is that there is always the potential for multiple different shapes/structure/geometry that wave can come in, so you need to drop lower in fractals and clock the sub-waves. When the sub-waves complete, you manage risk accordingly for a clear targeted entry... the lower in fractals you go, the more precision is seen. For example if you're able to count the completion of waves on the hourly chart and enter, your risk or stop loss will need to be a larger amount than if you were to continue lower from the hourly and find the intraday entry. Allowing you to manage risk with a intraday move and if done correctly will target hourly, daily, weekly, monthly, yearly targets if you so choose.
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to show some more clear and extreme targets (happening with a big move in a short amount of time)
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Managing risk is quite easy with standard Elliot Wave rules on what violates any particular wave count -highlighted roughly by the yellow pen- With a Daily FVG for added confidence but most importantly, as always, counting the completed waves on lower and lower fractals
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Dropping lower in fractals you can see more clear sub-waves, that allows you to tighten up risk and maintain your buy-sell bias. If that sub-wave were to get violated, it would completely change the entire previous wave count.