Possible 5th Wave extension count - Is it over yet?

Hi All,

Crazy moves by EUR and nice to see finally but is the impulsive wave over? My count previous count is still valid but instead of 5th wave terminating at the standard 100%, 1.618%, the wave has extended to 686% which is rare. However, given the nature of US economy and the recent Macron win has definitely given EUR a boost.

Please see the count so I am now looking for a possible corrective short to close the gap and then to shoot up up up.....

5th wave count.

Wave 1: Impulse
Wave 2: ZZ retraced to 50%
Wave 3: Extended to 686%
Wave 4: Expanded Flat retraced to 14.6% (Shortest fib key level)
Wave 5: Final impulse

Now, on the short side, I have drawn key levels I am expecting this pair to break and down to the previous wave 4, look for a retracement and then look at entering a short trade

Cheers and good luck.
Don

Trade active:

Short trade triggered.

Looking at a gap filler so a load of pips to be gained.

Let's see how this falls

Don