WaveAlchemy

EURUSD INTERMEDIATE ALTERNATE 1

FX:EURUSD   Euro / U.S. Dollar
67 0 3
Hi all,

This wave count states that 1) Intermediate W completed as a zigzag and 2) Intermediate X is unfolding as a regular flat.

*IMPORTANT NOTE*
Wave C of any flat correction must unfold in 5 waves. So if minute wave 4 pink moves beyond minute wave 2 pink, the idea for an expanded diagonal for Minor C will be discounted. In previous publication, I have made mention of the fact that double zigzags can achieve the same quality of progress as that achieved by a regular motive structure. So this will be the main premise for *MINOR ALTERNATE 2*. This wave count however is based on the assumption that Minor wave C blue is a motive structure, which is to be expected given the correction at hand.

_________

Wave C of any flat correction must unfold in 5 waves. The relationship between the impulse waves imply the possibility of an expanding flat, despite the lack of fitting subdivision and parent-wave-location.

Price is currently located in Minute wave 4 pink.
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