The 2 scenario, that of a typically more complex wave 4 would seem more likely to me, lower timeframes and other indicators (aside for volume) indicate the 1 scenario, in which we consolidate briefly for the beginning of a wave 5
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.