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Thursday, February 27, 2014

Gold - Is wave c of the triangle in place?

 




Gold

As we can count the first five wave decline of the 1,345.45 high I count wave c as terminated and will be looking for wave d lower towards support near 1,185. I would like to see red wave iii accelerate lower towards at least 1,293 soon to confirm that wave c did indeed end at 1,345.45.

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  1. UnknownFebruary 27, 2014 at 10:28 AM

    Hi EWS audnzd looking at good levels for ending iv at 1.0653 and getting in for v what levels do you expect for wave v as long as we dont brake wave i top...

    Brgs jt

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    1. Elliott wave surferFebruary 27, 2014 at 11:12 AM

      Hi JT,

      If support at 1.0653 does protect the downside we should see wave v higher towards 1.0977.

      But even if we do break below 1.0653 I do expect the 1.0488 to protect the downside for a new rally soon.

      Kind regards
      EWS

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