DNA Chart

Liking the look of the chart, here's why,
We have built a nice base since the start of this year.
We recently broke above resistance on good volume (though have come back to re-test it and dipped under again)
We now have a clearly defined wave structure in place ie wave one has completed its run up from end sept to end oct,wave two has completed its retracement into the 50 to 61.8% buy zone at 74 cents, which means we should be on wave three now with a target zone of $1.10 to $1.20 which is the 50 to 61.8% retracement level of the whole move down from the highs at $1.60
What i'me not liking is fridays candle and one other thing worth saying is that if it goes below 72cents (the 61.8% retracement level of wave one) then it could mean a failure of the pattern?
cheers
filbert