GOLD 1H AND 4H ROUTE MAP UPDATE
Hey Everyone,
Please see our 4h chart update after completing our 1H idea.
On our 1H chart idea we stated yesterday another re-test on 2027 was likely and an ema5 failure to cross will see price come back down to complete the swing range. Although todays momentum was driven by CPI news release, our technicals were respected and this played out for the drop completing the swing range
We got the 2027 hit, which was the perfect exit and then ema5 failure to lock above 2027 confirmed the rejection completing the swing range and also the support structure from the news momentum - see 1H chart below
Our 4H chart then came into play. Also played out perfectly with our 2028 target hit, also giving us the perfect TP today. EMA5 failed to cross above 2028 confirming the rejection and then a nice move down now into the swing range completing 1999 and 1992. 1992 Goldturn, also gave the 40 pip reactional bounce and currently acting as support.
We will now see how this support level at 1992 holds. We will either see this level hold for a another bounce or ema5 cross and lock below this level will open play into the range below for a longer play. Should the range below open up, we will update the levels accordingly for a fresh update tomorrow.
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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2028 - DONE
EMA5 CROSS AND LOCK ABOVE 2028 WILL OPEN THE FOLLOWING BULLISH TARGET
2042 - FAILED TO CROSS AND LOCK CONFIRMING REJECTION
EMA5 CROSS AND LOCK ABOVE 2042 WILL OPEN THE FOLLOWING BULLISH TARGET
2053
POTENTIALLY 2061
BEARISH TARGETS
2017 - DONE
EMA5 CROSS AND LOCK BELOW 2017 WILL OPEN THE SWING RANGE
SWING RANGE
1999 - 1992 - DONE
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
Mr Gold
Please see our 4h chart update after completing our 1H idea.
On our 1H chart idea we stated yesterday another re-test on 2027 was likely and an ema5 failure to cross will see price come back down to complete the swing range. Although todays momentum was driven by CPI news release, our technicals were respected and this played out for the drop completing the swing range
We got the 2027 hit, which was the perfect exit and then ema5 failure to lock above 2027 confirmed the rejection completing the swing range and also the support structure from the news momentum - see 1H chart below
Our 4H chart then came into play. Also played out perfectly with our 2028 target hit, also giving us the perfect TP today. EMA5 failed to cross above 2028 confirming the rejection and then a nice move down now into the swing range completing 1999 and 1992. 1992 Goldturn, also gave the 40 pip reactional bounce and currently acting as support.
We will now see how this support level at 1992 holds. We will either see this level hold for a another bounce or ema5 cross and lock below this level will open play into the range below for a longer play. Should the range below open up, we will update the levels accordingly for a fresh update tomorrow.
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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2028 - DONE
EMA5 CROSS AND LOCK ABOVE 2028 WILL OPEN THE FOLLOWING BULLISH TARGET
2042 - FAILED TO CROSS AND LOCK CONFIRMING REJECTION
EMA5 CROSS AND LOCK ABOVE 2042 WILL OPEN THE FOLLOWING BULLISH TARGET
2053
POTENTIALLY 2061
BEARISH TARGETS
2017 - DONE
EMA5 CROSS AND LOCK BELOW 2017 WILL OPEN THE SWING RANGE
SWING RANGE
1999 - 1992 - DONE
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
Mr Gold
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