Looking at that chart , we are still to complete the 5th wave . A look at the 5th wave itself below::
Now i remember reading the following important things about expanding diagonals:
1. There is overlap of waves .
2. The wave structure is 3-3-3-3-3.
Now heres why I am confused. I think I can definitely identify 5 waves and not 3 in both bc and what looks like cd( ? ). Am I wrong in identifying the waves.
The trend-line has been touched today and I am expecting a reversal from here onwards. On top of that the dollar is also seeing a downtrend. Now if this trend-line is broken convincingly downwards , i will have to rethink the whole scenario.
