screencast.com/t/bqmSBXUYJm9
From an EWT point of view this is forming a perfect impulsive wave in that 2 retraced 61% of 1, and 3 represents a 161% extension of 1 and 2. To carry on this scenario I would be expecting 4 to retrace 38% of 3, which would indicate the current rise might only be the b of 4 with the c to follow down to the gap at 256ish. This should provide an excellent entry to ride the wave 5.
