Think I've understood this and generally agree with it, but some clarification would be good as I think a couple of points were a bit confused.
We've already hit $420, which is the support you say was established a few months back. However you seem to be anticipating a further retracement to this level (and below), since this is your target buy price.
What does it mean that the $420 mark was so significantly breached, albeit for a short time? And the fact that your buy target is some way beneath it?
Just seems like there's some loose ends to tie up there.