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I am a newbie using median line. I am very confused when to draw a new median line. In the attached picture, if the price is at point A, should I draw a new median line ML2 with UML2 and LML2. And should I wait for a test and re-test at UML1 to short or should I wait for a test and re-test at...

AW10, thank you for your explanation! Does the downside target have any relationship (i.e. specific ratio) with XA, AB, BC or CD. I didn't find any books mentioned about it. Also, how could I determine short entry point?

Is it a butterfly? Is it time to short June Gold?:confused:

SPI is very liquid during the period for Austrialian equities. I trade Simex Nikkei because it trades 15 minutes earlier than Osaka Nikkei.

I am a full time trader. I day trade SPI and Nikkei index futures using 3 min chart. Not so successful! Many trades made but not enough profits over a year's trading.