GOLD ROUTE MAP & TRADING PLAN UPDATE
Hey Everyone,
Another PIPTASTIC day for us on the markets. Our chart idea played out perfectly once again hitting our Bullish target at 2071 and just short of the final target at 2086, after the ema5 lock confirmation of 2063.
As stated yesterday, we were expecting a re-test of 2063 and then a cross and lock to open the above targets. Once again our weighted level 2063 break and confirmation delivered the goods with plenty of time to get in for the move.
We will now need to see a test at 2086 and if we see a ema5 lock above 2086 we will see the range above open. Failure to test and break above 2086 will follow with a retest of the weighted support at 2071 or 2063.
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 - DONE
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
Another PIPTASTIC day for us on the markets. Our chart idea played out perfectly once again hitting our Bullish target at 2071 and just short of the final target at 2086, after the ema5 lock confirmation of 2063.
As stated yesterday, we were expecting a re-test of 2063 and then a cross and lock to open the above targets. Once again our weighted level 2063 break and confirmation delivered the goods with plenty of time to get in for the move.
We will now need to see a test at 2086 and if we see a ema5 lock above 2086 we will see the range above open. Failure to test and break above 2086 will follow with a retest of the weighted support at 2071 or 2063.
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 - DONE
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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