To summarise, I believe that we will have a 5th leg up. This will finish a larger scale wave 1 (into a wave 2) or be the end of an X wave that takes us to new lows. It could be a good idea to sell the top of the 5 wave and then just wait it out to see what happens. Maybe ladder in some buy at the .618 of the whole move. If the .618 then fails u can sell for a small loss. Alternatively, you buy the .618 and then have nice returns if a macro wave 3-5 plays out.
If the bottom of this channel breaks with force and we don't hold the .382 of this potential wave 3, then this move is over. This is a wave count I pointed out in 1 of my last posts.
Edit: I just realised that this wave 5 could also coincide with the 10th of August and the 'ETF' news event. It could very well be a 'buy the rumour, sell the news' type of affair.