GOLD ROUTE MAP & TRADING PLAN UPDATE
Hey Everyone,
Our chart idea has started the week with our first Bullish target at 2063 HIT. As stated Sunday we were seeing price sit between two weighted levels for a test and break on either Goldturn to confirm the next level.
Price hit our target at 2063 but failed to cross and lock above 2063 with a clean break to open the range above. We are looking for another retest on this level, keeping in mind support still stands at 2048.
A bearish test to support at 2048 and a break and lock below this level will open the retracement range.
Price is playing in a central range in this overall structure and likely to see big swings either way. We will be managing a tight risk model to be able to move move with the swings without over exposure.
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 share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2063 - DONE
EMA5 CROSS AND LOCK ABOVE 2063 WILL OPEN THE FOLLOWING BULLISH TARGET
2071
2086
BEARISH TARGETS
2048
EMA5 CROSS AND LOCK BELOW 2048 WILL OPEN THE FOLLOWING BEARISH RETRACEMENT TARGETS
2040
2032
EMA5 CROSS AND LOCK BELOW 2032 WILL OPEN THE SWING RANGE
SWING RANGE
2019 - 2002
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Our chart idea has started the week with our first Bullish target at 2063 HIT. As stated Sunday we were seeing price sit between two weighted levels for a test and break on either Goldturn to confirm the next level.
Price hit our target at 2063 but failed to cross and lock above 2063 with a clean break to open the range above. We are looking for another retest on this level, keeping in mind support still stands at 2048.
A bearish test to support at 2048 and a break and lock below this level will open the retracement range.
Price is playing in a central range in this overall structure and likely to see big swings either way. We will be managing a tight risk model to be able to move move with the swings without over exposure.
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 share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2063 - DONE
EMA5 CROSS AND LOCK ABOVE 2063 WILL OPEN THE FOLLOWING BULLISH TARGET
2071
2086
BEARISH TARGETS
2048
EMA5 CROSS AND LOCK BELOW 2048 WILL OPEN THE FOLLOWING BEARISH RETRACEMENT TARGETS
2040
2032
EMA5 CROSS AND LOCK BELOW 2032 WILL OPEN THE SWING RANGE
SWING RANGE
2019 - 2002
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
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