I just wanted to share this alternate count in EUR/USD with you.Wave 1 and 3 is almost equal in length (wave 3 a little longer than wave 1), while wave 5 has clearly become extended. The rally from 118.75 has fulfilled all requirements therefore wave 2 could be finished with the test of 127.35 today. However it could also be only wave A of a flat correction. R.N. Elliott said that extended fifth waves must be "double retraced" (see EWP page 58-59 too). If this is the case we should see a new low before wave C takes us much higher. Probably all the way to the 138 area.
I just want to make clear that this is an alternate count and not my preferred count, but it could be a possibility.
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