The green wave count is in the daily time frame that has gone through an Elliott cycle. The orange wave count is in a 4-hour time frame that will go through a 5-piece Elliott cycle, or The blue wave count was in a 4-hour timeframe when we completed a 3-piece Elliott cycle and reached the beginning of the bullish wave. In case of the first scenario (orange) we...
If we consider this correction as a 4 Elliott wave in the daily time frame, we can expect such a correction.