GOLD ROUTE MAP UPDATE
Hey Everyone,
Another PIPTASTIC day on the charts today with our analysis playing out perfectly.
After hitting targets yesterday we stated that we were seeing 2500 Goldturn providing support, which will likely follow with the upper levels being retested. We got the 2509 and 2519 re-tested, as analysed and then another rejection now into 2500 again. No ema5 cross and lock below 2500 provided support once again with the perfect bounce into 2509.
We are now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.
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
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
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
Another PIPTASTIC day on the charts today with our analysis playing out perfectly.
After hitting targets yesterday we stated that we were seeing 2500 Goldturn providing support, which will likely follow with the upper levels being retested. We got the 2509 and 2519 re-tested, as analysed and then another rejection now into 2500 again. No ema5 cross and lock below 2500 provided support once again with the perfect bounce into 2509.
We are now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.
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
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
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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