Wave (5) is underway?

This pair may be traced out a 5-waves decline

Commento:

bearish count

there are other ways of counting this decline but this is my best guessing so far

Commento:

possible structure for wave (iv)

Commento:

short with a tight stop, looking for further trend confirmation, then maybe add more chips in

Commento:

I am still not sure if my wave labeling is correct or not, maybe they are not (iii) & (iv).
But the blue a-b-c structure certainly looks corrective, a break of the blue trend line would signal further downside potential

Commento:

short-term bearish count

Commento:

corrective pattern close to completion?