Friday, October 5, 2012

Xau/Usd : Top of the range

In the last post about gold vs the us dollar i had 2 possibilities, both were invalidated. I am actually happy about this, because this gives this new count a lot more power. I believe a great opportunity to short with little risk and huge potentiel gains is here now, it's never 100% sure but i like the good odds here. 2 equal legs from the bottom and price at top of the channel to form the end of a corrective pattern. It is possible that this corrective wave transforms into a bigger correction but because price has allready taken so much time to form wave B i believe the chance that this corrective wave isn't finished is very small.