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.
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