GOLD ROUTE MAP UPDATE
Hey Everyone,
Slow start to the week with ranging movement following on from the breakout last week into this ATH range.
However, as analysed we got the first Bullish target hit today at 2581 during Tokyo session. We now have a ema5 lock above 2581 opening upto 2591, which gave just over 40 pips and remains open. We need to also keep in mind the Bearish gap below at 2567.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We are taking extra caution with our buys in this new range, as bigger corrections are likely.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2581 - DONE
EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET
2591
EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET
2603
POTENTIALLY 2615
BEARISH TARGETS
2567
EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2554 - 2538
EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE
SWING RANGE
2516 - 2506
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Slow start to the week with ranging movement following on from the breakout last week into this ATH range.
However, as analysed we got the first Bullish target hit today at 2581 during Tokyo session. We now have a ema5 lock above 2581 opening upto 2591, which gave just over 40 pips and remains open. We need to also keep in mind the Bearish gap below at 2567.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We are taking extra caution with our buys in this new range, as bigger corrections are likely.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2581 - DONE
EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET
2591
EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET
2603
POTENTIALLY 2615
BEARISH TARGETS
2567
EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2554 - 2538
EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE
SWING RANGE
2516 - 2506
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
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