my reasoning was that we had completed a 5 wave sideways channel...

my reasoning was that we had completed a 5 wave sideways channel (second leg A of the previously charted double zigzag also alternated between sharp & flat/soft) also my original assumtion of a breakout from the ascending triangle was correct, I was just unsure of my reading given that the rally only ran 1c to 52c then pullback & bounce back to 51.5 to complete the middle leg.
After the current 3 wave move up we should see the final leg C retracement to Major point 2 & the beginning of a new uptrend (leg 3)

final leg C should be sharp as first leg C was flat. again 5 waves of 3 waves. I had marked the broad directional movement without the subminuette 3 waves on each leg with the blue arrows. A strong run here should set us up to have our final bottom above the .236 support line (51.5c) & up up and away, Go PNA :)

note: you need intraday charting to be able to count all the waves, daily charting wont cut the mustard other than to see a broad cycle positioning.