Reminder: The Principle of Equivalence

This is just a reminder that The Principle of Equivalence suggests that there are two common forms of wave shape that a Minor C wave could take, as diagrammed below. First, Minor C could be a contracting diagonal unto itself as shown on the left.

Minor C Wave - Two Forms

Second, is an impulse C wave with a fifth wave diagonal - as shown on the right. Either of these would work, although the first one might have better alternation with the Minor A wave overall which appeared to be a non-overlapping impulse.

There is, of course, a third much more rare form of an overall expanding diagonal for this wave. But, as of this time there just isn't much evidence for that count. And - because it is more rare - it will be dealt with later, if needed.

With that in mind, The Principle of Equivalence also says that - without any current overlaps to work with - we must also consider these two counts on the four-hour chart on the way up.

Again, we have no overlaps to work off of, yet, and I am following degree labeling here as best as possible.

Have an excellent rest of the day.

TraderJoe