Here is my current Elliott waves count on euro/usd currency on lower time frame 1 hour.
What I have seen was a motive move from top 149.27 toward last low 140.66.
All the down moves possibly has reach their low at 140.xx and ready for a corrective move. The third wave was about 462% fibo extension from wave one relative to wave two. What is could be an interesting charting is the running wave b correction that possibly made an orthodox bottom. Anyway on the next trading day we would be certain whether the move from 1.4339 currently charted as (wave a) to low 140.66 will be in three subwave or five subwave before I can make a conclussion. From 1h chart we can see a divergence built up from 1.4509 to currently charted wave five or even orthodox low wave b.
It is interesting to see a corrective move in the next trading day towards my predictive value of 1.44xx. If hovewer the down move is beyond 1.4000 before a predictive correction wave we can conclude that the wave 1 is yet not completed and count to be reviewed.
Expanded flat or also called irregular flat is a common type of flat where the wave b is extended and goes beyond the previous impulsive wave. The untold story behind this is a market is likely to go toward direction of wave b. After correction of wave c, often a strong impulsive wave of the next degree will take place.
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