7pasos

Because the rules are over the guides

INDEX:DXY   U.S. Dollar Index
185 1 0
Here is in red my first theory of how the dollar was rising in a impulsive way, this was my count till yesterday, let me first explain why i decided to extend the 5th of the wave 3) (remember in red). The main reason was because the same kind of acute retrace observed in 2) and the next one retrace, as they do not show alternance, then I assumed the most probable was that there was another elliott wave for wave 3)) extending, wich also coincided with the idea of the 3rd is ofthen the extended one. But we cant keep this counting because in order to extend this wave we need to see the 3rd wave of it as the less long of this wave 3) because as the wave 5 keep going higher became longer than the 3rd.
There fore, and because the rules are more important to observe, we must recount as i show in black, ignoring the lack of alternance thinking this rally as a first wave ending where we had the last 3 red wave, and then with a shallow retracement which makes me think that is possible a zigzag or an impulse (the impulse is more probable because the context).
There are another way to count this as a 3 sets of 1),2), 1,2,i)),ii)) as well but as all the retraces then are shallow I let this as the less probable count by now.
7pasos
3 years ago
The other way to count to turn around the problems of lack of alternance and the 3 as the shortest
Elliott wave count with a more impulsive feeling
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