Another great day on the markets today, allowing us to bounce between the Goldturns, inline with our plans to buy dips. Not much to report as we are seeing Gold range sideways consolidating ready for a breakout.
We still have the gap left open at 2999, which fell short by a few pips. We will continue to use the lower Goldturns to buy dips until we see the weighted levels cross and lock to confirm the next range. Failure to break 3032 will keep seeing rejections into the lower Goldturns for the bounces.
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 3032 - DONE
EMA5 CROSS AND LOCK ABOVE 3032 WILL OPEN THE FOLLOWING BULLISH TARGET 3050
EMA5 CROSS AND LOCK ABOVE 3050 WILL OPEN THE FOLLOWING BULLISH TARGET 3065
EMA5 CROSS AND LOCK ABOVE 3065 WILL OPEN THE FOLLOWING BULLISH TARGET 3080
EMA5 CROSS AND LOCK ABOVE 3080 WILL OPEN THE FOLLOWING BULLISH TARGET 3097
BEARISH TARGETS 3015 - DONE
EMA5 CROSS AND LOCK BELOW 3015 WILL OPEN THE FOLLOWING BEARISH TARGET 2999
EMA5 CROSS AND LOCK BELOW 2999 WILL OPEN THE FOLLOWING BEARISH TARGET 2978
EMA5 CROSS AND LOCK BELOW 2978 WILL OPEN THE SWING RANGE
SWING RANGE 2950 - 2927
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!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.