GOLD 1H CHART ROUTE MAP UPDATE
Hey Everyone,
Great start to the week with our 1h chart idea playing out perfectly, as analysed.
We got the cross and lock below 2500 opening the retracement range, which was hit perfectly. This followed with the perfect bounce for a nice catch and now heading for 2509.
We currently have a gap above at 2509 and will need a cross and lock above this level to open the range above. Failure to test and break 2509 level will follow with a rejection for another retracement test to the full retracement.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
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 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
2509
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519
2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
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
Great start to the week with our 1h chart idea playing out perfectly, as analysed.
We got the cross and lock below 2500 opening the retracement range, which was hit perfectly. This followed with the perfect bounce for a nice catch and now heading for 2509.
We currently have a gap above at 2509 and will need a cross and lock above this level to open the range above. Failure to test and break 2509 level will follow with a rejection for another retracement test to the full retracement.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
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 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
2509
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519
2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
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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