Tinny...I plotted the waves exactly as you called them in your post mate...see quote
“If we were to use Elliot Wave theory, and if we were to take the run from $0.335 to $1.185 as wave 1, the retracement to $0.77 as wave 2, the run up to $1.78 as wave 3 and the retracement to $1.10 as wave 4 we can make the following observations”
so:
Wave 1 : 33.5- 1.185 Wave 2 - Retracement 0.77
Wave 3 : 77 - 1.78. Wave 4 - Retracement 1.10
So in your original post you call wave 4 dipping into the wave 1
and if you read my post I said I didn’t agree that the Retracement to $1.10 should count as it passed the 61.8% fib which is a break of uptrend ...but we recovered and are clearly still in an uptrend, wave theory is not a perfect science, anomalies are allowed.
quoted from my post:
”
Wave 4 retracement dipped below 61.8% fib @ $1.18 hitting a low of $1.10, I believe this pullback was over done and therefore for the purposes of the start point of wave 5 I would use the 50% fib which coincidentally is the high point of Wave 1 @ $1.235 ** (see explanation below)”
Not sure I agree with these new waves that you’ve plotted as wave 1 and 2 see a 100% Retracement so trend is broken. But I do like it for the fact that if it is correct then the 161.8% fib extension would be in the high $2’s
