Hey,
That third scenario you show doesn't match too much with the EW rules and Fib levels, as 4 overlaps with 1 (I know it's an approximation), but if it would have the 4 not overlapping with 1, wave 5 would end up around 3600 - 3700 levels.
The other 2 also don't fit too well with the usual Fibs for waves 1 to 3...
I would say this drop to under 5500 should be taken as part of a previous bigger wave, to fit in the usual Fib levels.
But just my opinion!
Cheers.
The third scenario matches perfectly well with all EW rules. In an ending diagonal (3-3-3-3-3) it is actually a requirement that 4 overlaps with 1. Without this overlap it cannot be an ending diagonal. This is not my opinion but a rule.
Fib relationships between waves are an approximation based on probabilities. They can be much shorter or much longer than the common ratios without breaking a rule.
I am interested to see your count though. Cheers
Hey,
You were right, I didn't realise about the diagonal!
It's actually looking like the closest prediction to reality, let's see if it bounces from here or we go lower.
Cheers.