Monday, 20 July 2015

Gold Touchdown and Sugar (continued)

 I dont want to say " I told you so" but all that glitters is not gold.

 I dont trade Gold but this chart with the two ML's shown are absolutely worth including in this post

 Touchdown on the CL

 Now this is remarkable: you may say its crazy that  in the 5 min time frame the centre lines of the blue and red PF/ML are in this position yet in the chart above the green ML has not even been touched.. Look at the correlation with price in the 5 min chart below and as I always remind the reader: The skill is knowing where each ML/RL is in every time frame. Anomalies such as this are due to scaling issues plus PF indicator coding and our 2D price/data representation systems.After nearly 10 years of study I can tell you this phenomena can be replicated on any chart and that neatly brings me back to Sugar.


Please read the previous posts on Sugar LINK LINK1
Here comes the retouch on the green LMLP and a retest of 11.00. Personally the gap down and current price action suggest we may make a lower low around 10.90. Whatever the future holds the bias remains lower but you will see another sideways bounce-use these horizontal ML's as high probability entry areas. I am holding my cards tightly for a long entry around the big figure


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