I wrote on 4th of May: "It seems we ended up with the yellow 3rd wave within the 5th... The 4th wave within the 5th should find support at 14745 or else at 14700 before exploding higher again to end with the 5th of the 5th wave..."... It seems that the 4th wave was shorter than i expected and the 5th of the 5th wave ended with a small thrust above the congestion zone before EURUSD falling out of a cliff for nearly 480 pips... it has now finished 5 clear waves down and expectations now are for a second wave to form above the 50% retracement level, possibly at the 61,8% at 14750... Shorting at this area against the highs should be well rewarding...
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