|Already Validated Fourth Wave "Running Triangle"|
As many of you know, in order for a "running triangle" to be validated, the (E) must cross down back below the prior 3rd wave, which is shown in this chart as the (0) origin of the triangle. This agrees with the same location as wave 3 on the cash chart. So, this triangle has 'already' been validated by virtue of the (E) wave already having crossed down below (0), but another wave down would provide even a "better look" to the triangle.
This is partly what is meant by the triangle forming properly in every detail. But the other portion of that is the time signature of the triangle. Note that the (A) wave is the shortest in time, and every other wave of the triangle is longer in time. This is the most common way triangles form, they "take up time".
We need to note that the (C) wave lower on the cash chart was nowhere near as deep, and so on the S&P500 30-minute cash chart, while nothing is invalid with that triangle at this time, it does have a rather "weird" look to it, and could require more downward movement.