Gold

A Metatrader 240min and 60min chart. In the 240 min price rises sharply and touches centre line and has dropped back. In the 60 min chart another smaller ML set (in Magenta/purple) that duplicates the same frequency as the larger ML set shows several touches on the fork and centre line. In addition there are some vertical time cycle lines not doing a bad job of picking out recent swing highs and lows. A 23.6% Fib retracement would bring us back to the magenta centre line at about the 1135$ area but this is not a market that i want to be caught very short of until we have an confirmation that we are undergoing anything more than a small retracement.... but i still think there are still possible short trades for a few bucks if you entered above 1148.00$