elliott wave playing out?, page-7

Hi n6412297

Yes that's pretty much it... Those in the know will have to forgive my terminology of the cycles.

So I'm thinking this is a minor (motive) 5 wave which makes it the 1st or (1) wave of a 5 wave major cycle.

The total move of this (minor motive wave) was from .023 to .067 = .044c
If this wave retraces 61.8% of the last .044c move we will be looking at share price .040c and if it only retraces 50% then we will be looking at share price .045c

If we assuming the next minor 5 wave motive cycle is similar in size to major wave (1) and moving from the 61.8% retrace, then we will be looking at a top of wave (2) being approx .084c and if the retrace is only 50% then we might see a wave (2) top of .089c