XES hits the 50% fib retracement mid channel

I've been on XES topping watch for a short while now.  The current chart action suggests that XES has a very high probability of rolling over big time into a 3rd wave down.  Most chartists wait for confirmation before they say anything.  I understand the value of confirmation.  But if you wait too long then you miss the big percentage moves that happen at the start of a direction change.  I prefer to place a bet based on anticipated direction change and then either pull the bet if my model either proves wrong or buy in more as my bet proves it is correct.  To each his own of course and all of this is just wild gambling that is best done with small money.  This is entertainment, nothing more.

In any case, the 50% fib would be a good place to reverse.  The 61.8 could also turn out to be the reversal point.  But when this thing falls back through the bottom of the lower support again I do not think it will be falling alone.