Since the last post, price went a little lower at first but not for long since price rallied again after making a higher low. I will now count this as a complex triple three wave (X). Another possibility is that another 3 waves up will follow, in that case there would no longer be a complex triple three, but a bigger complex double three. The 2nd X wave in the triple three, would become the X in the WXY double three. It's not called complex for nothing. If the trendline breaks chances are the downtrend has resumed.
Monday, June 6, 2011
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