GOLD 4H CHART ROUTE MAP UPDATE
Hey Everyone,
After completing the swing range activation from our 1H chart, please now also review our 4H chart idea.
The 4H chart idea also had a swing range test and gave the swing, but off the back of a volatile candle and didn't allow for the cross and lock confirmation due to momentum. The swing gave the bounce and an extended push into 2416 Goldturn resistance, followed with the rejection into 2391.
We are now looking for ema5 to lock below 2391 to open the full swing range. Failure to lock below this level will provide another bounce to retest the levels above.
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 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
2467
EMA5 CROSS AND LOCK ABOVE 2467 WILL OPEN THE FOLLOWING BULLISH TARGET
2491
POTENTIALLY 2510
BEARISH TARGETS
2438 - DONE
EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE FOLLOWING BEARISH TARGETS
2416 - DONE
2391 - DONE
EMA5 CROSS AND LOCK BELOW 2391 WILL OPEN THE SWING RANGE
SWING RANGE
2369 (DONE) - 2345
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
After completing the swing range activation from our 1H chart, please now also review our 4H chart idea.
The 4H chart idea also had a swing range test and gave the swing, but off the back of a volatile candle and didn't allow for the cross and lock confirmation due to momentum. The swing gave the bounce and an extended push into 2416 Goldturn resistance, followed with the rejection into 2391.
We are now looking for ema5 to lock below 2391 to open the full swing range. Failure to lock below this level will provide another bounce to retest the levels above.
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 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
2467
EMA5 CROSS AND LOCK ABOVE 2467 WILL OPEN THE FOLLOWING BULLISH TARGET
2491
POTENTIALLY 2510
BEARISH TARGETS
2438 - DONE
EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE FOLLOWING BEARISH TARGETS
2416 - DONE
2391 - DONE
EMA5 CROSS AND LOCK BELOW 2391 WILL OPEN THE SWING RANGE
SWING RANGE
2369 (DONE) - 2345
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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