NVA Chart, page-1309

@W3hunter
I just thought would put this in the NVA thread so I don't annoy the RAC holders!
So stepping back to the monthly chart, we have W3 reaching it's peak @ 9.9c or 162%, (shown below), the previous down leg has the 62% fib @ 5.9c which is what we could back test in the larger wave 4.



Then moving onto the daily chart, we are also at w3 peak of 162% (9.6c) and given we have jumped out of the bollinger bands this looks likely to be the short term top.



Summing up, from here we are likely to have a smaller w4 correction down to a fib support level based on w3, then starting w5 we could shoot for a 262% (~15c) extended W3 on the monthly chart, or if the w4 correction is only minor we might top out just above the current w3.
W4 on the monthly chart in theory should test the 62% resistance line from the previous downtrend.

In a sense we may have just finished a smaller w3 in the larger W3 pattern. This will definitely interesting to see how this plays out.

How often does the 62% back test take place? If we have an extended W3 could we only back test 100%, given the news flow coming for this I would not like to see back testing to the 6c level.