WaveAlchemy
Short

EURUSD MINUTE ALTERNATE 2

FX:EURUSD   Euro / U.S. Dollar
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Hi all,

This wave count states that 1) Minute wave 3 pink completed on 18 AUG as a zigzag 5-3-5 and 2) Minute wave 4 pink is still unfolding as a zigzag .

Wave development following 18 AUG orthodox high is expansive, indicating the beginning of an actionary wave. I am calculating the most appropriate degree for this actionary wave. This wave count argues that minute wave 4 subdivides into 5-3-5 in which the first motive structure is diverging suggesting the strong probability of another actionary motive structure to the downside after a very deep correction Minuette B.

Like impulse structures, wave 4 of expanding diagonals are typically more exaggerated in duration and subdivision than wave 2. So as such a clear zigzag is expected.

Given this wave count, price would now be located in Minuette wave B green or the beginning of Minuettte wave C.
Comment: *CONFIDENCE IN COUNT*
Comment: invalidated
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