Community discussions

Labeling
Wave (1): $217 → $316 (August–September)
– textbook impulsive structure (clear 5-wave internal count)
Wave (2): $316 → $247 (September–November)
– deep retrace to 0.786, typical for a 2nd wave
– forms an A–B–C zigzag (A=$316→$267, B=$267→$297, C=$297→$247)
What Happens Next
If $247 holds, you’re beginning Wave (3) of a new impulse.
Wave 3’s length projection = 1.618 × Wave 1
Wave 1 = $99
Wave 3 target = $247 + (1.618 × 99) ≈ $407
That’s your long-term extension potential.
However, the nearer-term swing zones line up like this:
Wave Target Level Fib / Structure
Wave 3 minor 1 $282–$297 retrace to 0.382–0.5 of prior drop
Wave 3 minor 3 $319–$345 1.272–1.414 extension
Wave 3 full $355–$375 1.618 extension
Invalidation: A close below $236 invalidates the bullish count (since Wave 2 cannot exceed the start of Wave 1).