Elliott Wave 3 or Wave 5???

Figuring out where we are can help us better understand where we are going.

Right now I've mapped out 2 possible scenarios:

1. Red Line - Shows we are ending Elliott wave 5 and the ABC correction wave is coming
or
2. Green Line - Shows we are mid way through Elliott wave 3 and we have a long way to go

What are your thoughts and why?

Here is a zoomed in image of my chart:

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