GOLD WEEKLY CHART MID/LONG TERM PROJECTION UPDATE
Hey Everyone,
This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected.
So far we were able to track the entre move up and down twice with level to level tracking and our long range swing range zones also providing the bounces each time.
LAST UPDATE
Last week we saw price reject on the Axis level to find support on the swing range for the bounce. This is a crucial test and will confirm support and back to testing the Axis level for a break and lock to open the range above for a channel half line test.
Failure to break above the 2048 Axis level will see price retest the swing range for a full channel bottom retest.
CURRENT UPDATE
Price is still ranging between the axis level and the weekly swing range. We will need to see a test and break on either level to confirm the next challenge either for the channel half line above or a breakout below the channel.
We need to keep the above in mind and continue with our plans to buy dips using our smaller timeframes, which will allow us to safely take the bounces from support.
Please don't forget to like, comment and follow to support us, we really appreciate it!
MR GOLD
XAUUSD TOP AUTHOR
This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected.
So far we were able to track the entre move up and down twice with level to level tracking and our long range swing range zones also providing the bounces each time.
LAST UPDATE
Last week we saw price reject on the Axis level to find support on the swing range for the bounce. This is a crucial test and will confirm support and back to testing the Axis level for a break and lock to open the range above for a channel half line test.
Failure to break above the 2048 Axis level will see price retest the swing range for a full channel bottom retest.
CURRENT UPDATE
Price is still ranging between the axis level and the weekly swing range. We will need to see a test and break on either level to confirm the next challenge either for the channel half line above or a breakout below the channel.
We need to keep the above in mind and continue with our plans to buy dips using our smaller timeframes, which will allow us to safely take the bounces from support.
Please don't forget to like, comment and follow to support us, we really appreciate it!
MR GOLD
XAUUSD TOP AUTHOR
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