Updated May 29, 2019
Monthly chart: Two months ago I showed the potential wave-3, 4,5 set up with “wave-3 is now clearly underway. Ideal target zones for wave-3, 4 and 5 are given. Don’t need to overthink this one too much imho.“Seems now like wave-3 only reached the 123.6% Fib-extension instead of the ideal / “normal” / text-book/standard Fib-extensions. But such is life, and that’s why one always only can anticipate, monitor and adjust. This means wave-4 is now underway and can go as low as the 61.8% retrace, but of course there is strong support at the long-term green uptrend line, which is closer to the 76.4% level. From there I expected an extended wave-5 because wave-3 fell a bit short of expectations.
The daily chart shows the wave count in more detail and major wave-4 should become a flat correction targeting ideally around $600 as that was support/resistance in February. This also coincides with the 76.4% level at $595 and a c=1.618x a extension