WaveAlchemy
Short

AUDUSD HOURLY BEAR (ALTERNATE 2 ACCOMODATION)

FX:AUDUSD   Australian Dollar/U.S. Dollar
80 0 5
Hi all,

I am looking to add to my aussie short.

In the alternate 2 assimilation wave 4 was ambiguous. It has moved up too sharp and too quick. A development of wave 4 would have likely pushed price higher - that is above the end of wave 1. With that being said I do not have the option to await such development because strictly the impulse labelling is not viable. I am therefore holding alternate 2 with less certainty.

This count sees that wave C green has only just begun unfolding. Wave B green unfolds as a running flat. It's subdivision fails to meet the structural count but gives the right look. This count permits Subminuette wave 2 orange to establish higher corrective ground. However it is likely that wave 2 has terminated at 0.382% of wave 1 where it also finds structural resistance.

Movement beyond invalidation point will suggest that wave 2 structure is still underway giving us better clarity .
Comment: *count INVALIDATED*

It appears that Subminuette wave 2 orange is still unfolding. Its structural subdivision will be evaluated in due course, after more price action.
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