Hey W3hunter,As a newbie to charting I'm just starting to get my...

Hey W3hunter,

As a newbie to charting I'm just starting to get my head around EWT. The catalyst has been watching this YouTube video

Before watching this, I found Quantum Physics easier to understand than EWT! So with that preamble out of the way, I'm now trying to apply
what I've learnt so far with EWT. I'd appreciate it if you could give me so feedback to the following: (Referring to the chart below.)

1. The blue arrow represents Wave1?
2. The black arrow represents Wave2?
3. The yellow arrow represents Wave3 which is incomplete and still has further to run?
4. How do you determine when to get out of Wave3? On the formation of Wave4?
5. How do the Fibonacci Retracements fit in? (I've tried to reproduce these based on your chart).
6. Why did you choose the 30/12/20 H of 9c as the basis of the Fib Retracements?
   

Thank you in advance