Charts, page-4075

Ah, ok looking at what I had done on the daily by expanding it out I can see now what I was thinking. I am modelling this as being after the completion of wave 4 of a multi day EW cycle, so we are in wave 5.2 now of wave 5. Wave 2's retrace to a maximum and most common fib point of 78% down point of wave 1 (the fib rainbow is upside down so 78%=23%), interestingly matches our 503 target (the green dotted line), but one should also pay attention to the sub waves and 530 roughly corresponds to 5.1.2, or the bottom of the subwave 3. Hence it is a first potential turn point after the top of wave 5.1.1 was breached. Interesting that the daily is confirming the 503 target though, and the potential for the 530 target, well more like 524 I guess if one looks closely. I guess we shall see which it is. Still expecting 503'ish however. I am not really happy about the second red sloping line from the top however because that is implying this is still in the ABC correction from wave 3 and that we have gone way too far for a wave 3 correction (wave 4), and a target of 379. I think we will ignore that as being ridiculous, but if it breaches 500'ish I think I would be hesitating, I note there are multiple support points below 500 so that is a positive, although it does suggest that one would want to see confirmation of the turn rather than trying to catch the bottom, as there is a certain risk sitting in the chart at the moment.




And here is the full chart so you can see the whole sequence ( bit tiny, I know). Note the problem with wave 5. Because wave 4 went too low, wave 5 may not reach wave 3 and has a large range of error indicated at the end, also it is not guaranteed to breach the support channel which means the channel does not act as support in the wave5 retrace. This is probably just reflecting the inherent unknowns in the future of WBT until sales agreements are signed, so will probably disappear as we get closer to it, but at this point the chart pattern is reflecting that uncertainty - somewhere between 630 and 1100, lol. Nothing like being precise!: