I have a couple of comment/questions based on yourchart. 1....

I have a couple of comment/questions based on yourchart.

1. Based on your chart analysis: If NMT holds 62% Fib retrace well and good but a deeper retrace 78% Fib could be expected with the broader market likely to fall further. Of late NMT chart has many gaps but I see most are getting filled. I see a gap (1.05-1.07 AUD) just below the 78% Fib which is not necessarily a break away gap and most likely will also be filled. Better now with this retrace than at a later stock cycle I feel. That should put a solid bottom at 1 AUD. Having said that NMT has respected 62% fib before. I made an entry before and looks like it held https://hotcopper.com.au/posts/61949936/single. So just thinking out aloud.

2. Alternative EW scenario: Is this a possibility?

Here, Wave 1 is 2013 till 2016. Wave 2 lasts 4 yearsfrom 2016 till around June 2020. I cannot include this in the chart since the recentyears´ movements become undiscernible. After this is the all-powerful Wave 3 andthe corrective Wave 4 triangle (white). Finally, the end of 5^th Wave(note it has 5 clear sub-waves within) is the all-time high marking the end ofthe impulse. We have a clean 5 wave downtrend which is the first leg A of ABC.The current counter trend wave is B since it apparently failed the 62% fib onthe larger grid. There is more downside to come in this analysis. The reason I ask isthat many lithium related stocks suffered brutal 5 wave pullbacks, almostvertical drops. Is this considered a full correction? They are also presentlyfailing 62% Fib resistance for the larger fib grid. Makes me wonder what ishappening here. I am just a small guy trying to understand these levels, pardonme if this is all crap. Thanks.