Well Augie, it just goes to show that a little knowledge is dangerous. My problem with your chart is that your wave counts are purely unique. The rest of us count all the odds going in one direction and the evens in the other direction. Your wave 4 going up has the unique property of being a horseshoe that bends back on itself and ends up lower than where it started. Only in California!!!
If we move your little "4" up to the wave that ends short of the resistance line, then 5 goes down to where the 4 is now. That suggests we are now in a corrective wave up. But that doesn't seem very satisfactory either because we have a truncated 4 and a truncated 5 that doesn't seem to fit in a wedge either. I am at a loss as how to interpret this little bugger. It may become clear when the whole pattern is played out.
If we look at the daily chart it looks like the last 3 days have been wave 4 of 3 down. So we should be looking for a corrective pattern here. The last 2-1/5 days look like a corrective pattern.
My mind is getting boggled on this. It has been my observation that the smaller the degree, the harder it is to count the waves properly. Notice how Onishaka(sp) seems to be wrong more often than right on his forecasts from his 5 minute charts. (Of course, 50/50 is better than most of us do, so I don't mean to disparage him.)
Now, back to your original question about throwovers. I see a lot of them. Originally it bothered me because of all the time I spent studying LG's SRL's where a breach is significant. I agree that throwunder of the 4 wave often portends a throwover 5 wave.
However, my interpretation of F&P on pages 71-72 (BTW, thanks for the citation, it saved me searching for it) is that the flat 4 refers to the 4 of 5 that tends to parallel the SRL. I don't think they mean the 4 of the same degree. BWDIK?
Re-reading this, I think people will have a hard time understanding this post because they will have to keep flipping back to your post to see the chart. I could not figure out how to copy your chart into my reply and I am too lazy to try to recreate it. So, I apologize to one and all.
Best to all,
JRH
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