On the hourly chart, the pattern requires that we at least consider the possibility that red 4 was truncated. The other option, which would be more bullish, would be that we haven't even seen red 4 yet. For now, I'm going to favor the former option, but will remain open to the market's input, as always.
In conclusion, ideally, we'd see the larger blue 4 show up resonably soon, but do keep in mind that blue 3/c is something of an inflection point (in the event of more complex patterns than the simple blue C wave as shown above), so a larger correction isn't entirely outside the realm of possibility. Trade safe.
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