The count is valid if the arc resistance and the recent low holds. Note that 1 is larger than i / 3, hence i / 3 shouldn't be marked as 3 and labeling that whole large move as 1 and the current consolidation as 2. Violent move in July best fits wave 3. The very long consolidation and a series of a-b-c moves (each shorter than the next one
) best fits the wave 4 and the triangle. IMO it's wrong to count the whole move from the bottom (what I labeled C in a triangle) up until a couple of days ago as wave i / 5, although it looks that it has 5 waves up. The violent move down yesterday best fits the c of an expanded flat (ii / 5).