The chorus acts as a curtain raiser and addresses all the topics that the play will not cover.
The Chorus offers doubts about Faustus' fortune: will they be 'Good or Bad'
It also shows the audience that Faustus' moral decisions are under observation.
The Chorus initiates a verbal technique with features in the play and in Faustus' mind: the confusion of moral terms, especially through the use of the physical images to discuss spirtual matters.
Waxen Wings: Chrous is comparing Faustus proleptically to Icarus (Greek Mythology) who flew to close to the sun which in result caused his wax wings to melt and he fell into the sea. The Icarus myth: overambition and hubris.
Now is he born, his parents base of stock
And Glutted more with learning's golden gifts.
His Waxen wings did mount above his reach
The fruitful plot of scholarism graced
Nothing so sweet as magic to him