Hi, no offence, but, I think your analysis is wrong. As per Elliot wave principle. the 4 cannot overlap into wave 1 zone which it is doing in the above case. I think the wave 3 and 4 above should actually be start of new wave and 3 & 4 be re called as 1 and 2 of a new wave. This 1 and 2 is the start of wave 3 starting from end of wave 2 shown above. Thanks,