Thursday, March 1, 2012

Xau/Usd : New downtrend or end of correction?

What an impressive decline we saw yesterday. The decline certainly looks impulsive. The big question is now, was this the start of a new decline or was this a wave C of an expanded flat. The break of the trendline suggests it is a new downtrend, but we will only be sure if the low of the new downtrend gets broken again in an impulsive way.

Main count :



Alternative count :

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