The minimum filter

Before marking a single zone, there is one question that decides whether there is anything to mark yet.

Has price retraced far enough

Module 26 drew the middle of a move. That line is the filter.

As a seller you want price back above the middle of the last fall. As a buyer, back below the middle of the last rise. Price on the wrong side of it means the pullback has not delivered anything worth selling or buying.

Price on the wrong side of the middle is a setup that has not arrived.

Gold this morning

The daily fall runs from 2,440 down to 2,396, and its middle is 2,418.