A leading diagonal has absorbed all the previous attempts to spot downward impulse waves on minute timeframes. Most likely we are in for a small bounce or sideways action before the plunge.
Since I am expecting an expanding diagonal, I label subwaves as nested abc zigzag within wxy double zigzag. I have a rule that expanding diagonals can be made of double zigzags only. And subwaves never break the trendlines of the expanding diagonal as opposed to what often happens in contracting one.
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