This has to be the final top of wave E, or it isn't wave E. It has ended just below the top of wave C of the triangle (1.3764), which is its theoretical maximum height. The post-triangle thrust measurement from the low of wave 3 suggests a target of 0.89.

This has to be the final top of wave E, or it isn't wave E. It has ended just below the top of wave C of the triangle (1.3764), which is its theoretical maximum height. The post-triangle thrust measurement from the low of wave 3 suggests a target of 0.89.

Following wave iv, the sequence suggests to me waves (i), (ii) and (iii) down have formed, followed by a rally nearly exactly to the target retracement level (green horizontal/top of smaller purple box). This I interpret as a wave (iv) which, although also slightly exceeding its corresponding wave (i) by a few points, has contracted and ended below it. The thrust measurement from this wave (iv) triangle, if taken as a near 0.786 of the actual thrust to come, also seems to support a total thrust down to around the 1.114 level.

After hitting a low near there completing this structure as a first wave down, we should see a 0.786 retracement back up into the 1.129 area for the second wave.

This all makes relative sense. I still lean toward a 5th wave (v) bottoming at 1.1115, by reason of several correlations:

#1 it is 2.382 the length of wave i measured from the end of wave ii (the usual suspect for the end of a 5th wave),

#2 it is where the 4th wave triangle (while it lasted) was pointing to,

#3 it is the .786 retracement of the last upward leg of the greater wave E which spawned this downward thrust, and

#4 it happens to be the 100% mark if the yellow horizontal line is 91.257% accurate as an indicator for the bottom of the thrust -- which was precisely the case with the previous yellow horizontal which you can also see in the chart. Those yellow bottoming indicators and their expected subsequent upward retracements (in purple) are measured from within the parameters of greater triangle E.