Hi all,
As expected, Aussie continues to make lower lows, and should ensue a near completion of orthodox lows of higher degree.
We saw some wave overlap in the Alternate 2 Assimilation count (see linked idea). This price action gives us two options to consider; either 1) re-evaluate the termination of wave B which avoids the problem of overlapping because then wave 4 is relabelled as a wave 2 which imposes no restriction to how far it can retrace (see linked idea - Alternate 2 Accommodation) or 2) accommodate the price action of overlapping to an ending diagonal motive structure where it is plausible (illustrated in this publication).
The subdivision of this motive structure favours and confirms the alternate 2 Assimilation count , that minuette wave b green ends on May 12, as opposed to the alternate 2 accommodation count that sees it end as a running flat on May 16.
Here, I will expect at micro level purple for a correction to begin unfolding (AS WE CAN SEE) as wave 3 has reached quality and length 1.618% of micro wave 1. If clarity of structural subdivision exists for wave 4, I will be able to determine its termination, after which I will anticipate to add once again to the short position.
Thanks, Ivan
As expected, Aussie continues to make lower lows, and should ensue a near completion of orthodox lows of higher degree.
We saw some wave overlap in the Alternate 2 Assimilation count (see linked idea). This price action gives us two options to consider; either 1) re-evaluate the termination of wave B which avoids the problem of overlapping because then wave 4 is relabelled as a wave 2 which imposes no restriction to how far it can retrace (see linked idea - Alternate 2 Accommodation) or 2) accommodate the price action of overlapping to an ending diagonal motive structure where it is plausible (illustrated in this publication).
The subdivision of this motive structure favours and confirms the alternate 2 Assimilation count , that minuette wave b green ends on May 12, as opposed to the alternate 2 accommodation count that sees it end as a running flat on May 16.
Here, I will expect at micro level purple for a correction to begin unfolding (AS WE CAN SEE) as wave 3 has reached quality and length 1.618% of micro wave 1. If clarity of structural subdivision exists for wave 4, I will be able to determine its termination, after which I will anticipate to add once again to the short position.
Thanks, Ivan
Trade active
A trade opportunity based on resistance level, offering an attractive risk to reward profile. Note
Supporting evidence at subminuette degree torque:By the guideline of alternation, I am conviced that wave 4 has successfully completed its subdivision as a simple zig zag.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.