GOLD 4H CHART MARKET UPDATE
Hey Everyone,
Another great day on the chart for us today with price rejection on the final range after hitting all our targets. As shared yesterday we don't like chasing targets all the way to the top on a new range and safer to buy dips and that's what we have been doing,
Today once again we were able to use our 1H chart levels to buy 30 to 40 pip dips from our strategic levels even against todays trend. That's the power of our chart setups!!
We now have a gap left on the top of the range and seeing price reject into the 4H chart retracement range. We expect a reaction here for a bounce or a cross and lock below this range will see the swing range.
We are now also seeing price back in the range on both 1H and 4H chart and therefore the levels and our cross and lock weighted levels are active once again, for us to track and trade the movement.
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
2760 (EMA5 LOCK ABOVE 2737 WILL FURTHER CONFIRM THIS) - DONE
POTENTIALLY 2779 - DONE
EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET
2797
POTENTIALLY 2814
BEARISH TARGETS
2737 - DONE
2715
EMA5 CROSS AND LOCK BELOW 2715 WILL OPEN THE SWING RANGE
SWING RANGE
2693 - 2669
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
Another great day on the chart for us today with price rejection on the final range after hitting all our targets. As shared yesterday we don't like chasing targets all the way to the top on a new range and safer to buy dips and that's what we have been doing,
Today once again we were able to use our 1H chart levels to buy 30 to 40 pip dips from our strategic levels even against todays trend. That's the power of our chart setups!!
We now have a gap left on the top of the range and seeing price reject into the 4H chart retracement range. We expect a reaction here for a bounce or a cross and lock below this range will see the swing range.
We are now also seeing price back in the range on both 1H and 4H chart and therefore the levels and our cross and lock weighted levels are active once again, for us to track and trade the movement.
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
2760 (EMA5 LOCK ABOVE 2737 WILL FURTHER CONFIRM THIS) - DONE
POTENTIALLY 2779 - DONE
EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET
2797
POTENTIALLY 2814
BEARISH TARGETS
2737 - DONE
2715
EMA5 CROSS AND LOCK BELOW 2715 WILL OPEN THE SWING RANGE
SWING RANGE
2693 - 2669
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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