A new short term rally in the horizon

FX:XAUUSD   Gold Spot / U.S. Dollar
260 0 0
As you can see, my elliott wave theory is that the decline that has failed, at least as far as, now in make new lows is an reactive count and then is confirmed by the first 5 waves up, that indicate that a new rally is in the horizon. We should expect perhaps a little lower pullback before a new strong wave up appears
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