EURUSD 6 HOUR BEAR (MINUETTE DEGREE A1)

This wave count states that 1) minuette wave 1 green has completed but its subdivision is unintelligible and 2) wave 2 green is currently unfolding as a prolonged regular flat.

Price is located within wave A blue of micro wave 4 purple of subminuette wave c orange. We should expect some more upside movement before starting wave 3. However if price establishes an identifiable 5-move down on this chart and degree count, I will turn to *EURUSD 6 HOUR BEAR (MINUETTE DEGREE A2)* that I will publish when appropriate.

Minuette wave 2 has a very ideal look and is so far structural sound with a count of 3-3-5.

Most recent orthodox high found resistance at 61.8% fib level. Therefore, sub-micro wave 5 purple may fall short of making a higher high.

Comment:

Alternatively, we could be seeing the early stages of minute wave 3 green unfold, given the precise resistance of 618.

This wave count does not see that wave 3 purple is extended, instead we have a motive structure that resembles an ending diagonal provided that waves 5 is shorter than wave 3 and wave 3 is even shorter still than wave 1.

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Comment:

(RELATED IDEA)

Comment:

The bearish count remains intact here.

Minuette wave 3 green appears to be unfolding. Subwave 3 is near commencing.

Comment:

Micro subwave C forms a very clear motive structure.

A trade setup will ideally pertain to a breach of the channel and some forms of reactionary wave.