There is a possibility that the 123 wave that was drawn is actually a wave 1, if you look at it on the daily chart, which means there could be a larger upside to euro, if today move up it will confirm that it is a wave 5 of 5
That makes (3) look way to short, it would need to be (i) of(3) with the whole final (5) being much bigger and reaching, more towards 1.1850.
or this is an ascending diagonal triangle with shortening waves but doesn't seem to be any evidence of that just yet.
or the first count was more or less correct.
Tough to call at moment but interesting counts.
tks
LauJinwen
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yes, having a short wave3 was one of my concerns but I try to take that as a guideline rather than a hard rule. @Robert.john.edgar, the recent move over the last few hours make it seem like a wave 5 of 5. Momentum should be running out anytime now. I think it should be seeing some retracement over the next one to two days. It was a tough call trying to chase the upside of a seemingly endless wave 5 of 5.
or this is an ascending diagonal triangle with shortening waves but doesn't seem to be any evidence of that just yet.
or the first count was more or less correct.
Tough to call at moment but interesting counts.
tks