Hi, Just wondering why wave 1 wasn't from the March 2009 low to the April 2011 high? The Oct 2011 seems to be the logical wave 2. The wave you have labelled (1) is the longest and most impulsive, while wave (3) is shorter and less impulsive and wave (4) impinges significantly on the wave (1) top (implying an impulse wave failure). With a little more zoom-out there are three main upward sub-waves since 2009 and no EW impulse wave rules are broken.