Many thanks for the excellent analysis! This has become one of my favorite TA threads, and probably second best EW thread on btctalk, only after masterluc's one 
If I understand correctly, given the recent break of 487 we should now have entered the V wave of the purple count. Noob (and obvious
) question here: what could be a reasonable downside target? Following what I understand are some tyipical EW rules the 5th wave can be 0.382 or 0.618 times the whole distance from the start of wave I (683) to the end of wave III (441), giving a target of 410 or 355 respectively... or even less if we have extensions etc!! 
If I understand correctly, given the recent break of 487 we should now have entered the V wave of the purple count. Noob (and obvious
) question here: what could be a reasonable downside target? Following what I understand are some tyipical EW rules the 5th wave can be 0.382 or 0.618 times the whole distance from the start of wave I (683) to the end of wave III (441), giving a target of 410 or 355 respectively... or even less if we have extensions etc!!