Charts, page-4081

Agree, but the problem is that the minimum projection for a wave 5 is the height of wave 1 which can put it below wave 3 in the case where wave 4 descends to the top of wave 1. Ideally wave 4 would have retraced 14, 23 or 38% of wave 3, or at most 50%. Not crossing wave 1 but below 50% is kind of the outer limit and in my experience wave 5 and the subsequent correction usually end up a mess when this happens. The sales agreements better be pretty impressive so wave 5 blows it out of the water and makes wave 3 look small. If we are on Wave 5.2 (which requires a reversal up 501 or above) then wave 5.3 min target becomes 791 as shown (iii) below, assuming that is where it stops (of course it can go higher) and retraces in wave 5.4 to 688 then we would anticipate a minimum wave 5.5 (and therefore wave 5) of 889 ( which is below wave 3) and if it repeats the wave 4 behaviour in w5.4 then the min W5.5 expected becomes 854. Now it can also be 160% of W4, which gives a w5 target of 1168. I think the lower end of my range is now out of the picture because that was calculated on the first hump in 5.1 and we ended up rising further so I think the minimum should be 854, barring some exogenous event that blows up the EW impulse pattern.

So if W5.3 runs up to 260% or better instead of 160%, or simply exceeds the 168% marker or retraces in w5.4 by only 14% or 23% instead of 38% or w5.5 runs up to the alternative target, we will clearly exceed W3. My mapping is for the minimum I think probable/possible, being the safest for a trading plan.