Xau/Usd : Flat complete

It appears the decline had another low in it before making a bottom. From the top there is now a 3 wave move down, a 3 wave rally and a 5 wave decline. A 3-3-5 makes a flat. This completed flat is probably just a first part of a decline that will last for many weeks. Notice the big hammer that formed right at the 161.8% fib extension, helping to confirm a possible bottom.