US$ Index and the Elliott Wave Principles

We are on the last 'leg' of an impulse move that should contain 5 Waves and is marked in Red. After Wave 1(Red) completed, we witnessed a Zigzag correction for Wave 2(Red). This means we should expect a Flat correction for Wave 4(Red). Wave 3(Red) is extended to the 361.8% Fib. level and this is very normal for both impulse and corrective waves. When Wave 3 (Red) is complete, a shallow correction appears and this is the first wave of the Flat correction. This is marked in Green. Wave B(Green) reaches the 423.6% Fib. level(which is normal) and in doing so extends beyond the end of wave 3(Red), which is also according to the rules of a Flat correction. At the 423.6% Fib. level, this level is also 100% of the inner zigzag from points A to B(Green). At this area we see a retest and confirmation take place, which marks the end of Wave B(Green) and the start of Wave C(Green) which is also Wave 4(Red).