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XAUUSD DownTrend Theory
XAUUSD
, 1D
Short
XAUUSD: XAUUSD DownTrend Theory
Updated 

I've identified a potential Elliott Impulse Wave down. As of this writing, if the analysis is correct, we're in Wave 3 right now. On the chart, I identify the previous Impulse wave up, followed by a corrective ABC Wave (Double Top). I drew a parallel channel down to help maintain the slope that has started to develop.

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