Continuing on about reaction lines take a look at spot Gold. The reaction lines drawn above also do a good job at defining the swing highs and lows although some of the detail is lost/distorted in the higher time frames.Charts are both Metatrader as i ( anyone) am/is unable to draw reaction lines with E-signal. The important area here is not only the aqua blue up sloping LMLP but also the white centre line of a high time frame ML set that i believe is the dominant path of price at the moment. We are on a 76.4 % Fib RT from the recent swing high at 1144.50 and just above the 23.6% Fib RT from the all time high of approx 1160.00 and we are above the Aqua/blue and white support.
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