GOLD ROUTE MAP UPDATE
Hey Everyone,
Another great day on the charts today with our chart idea playing out inline with our plans to buy dips.
After hitting our 2400 target yesterday with no cross and lock; we got the rejection into 2376 weighted support. We then stated that we needed to see ema5 cross and lock below 2376 to open the range below or a rejection here will follow with a retest back upto 2400.
- This is playing out perfectly, as we got the test and rejection on 2376. This gave us the perfect bounce of over 200 pips and still heading towards 2400, which just fell short.
We will continue to see play between both these two weighted levels and will look for ema5 to cross and lock either level to confirm the next range.
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
2400 - DONE
EMA5 CROSS AND LOCK ABOVE 2400 WILL OPEN THE FOLLOWING BULLISH TARGET
2423
POTENTIALLY 2438
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2459
POTEITNALLY 2475
BEARISH TARGETS
2376 - DONE
EMA5 CROSS AND LOCK BELOW 2376 WILL OPEN THE FOLLOWING BEARISH TARGET
2360
2344
EMA5 CROSS AND LOCK BELOW 2344 WILL OPEN THE SWING RANGE
SWING RANGE
2313- 2298
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 great day on the charts today with our chart idea playing out inline with our plans to buy dips.
After hitting our 2400 target yesterday with no cross and lock; we got the rejection into 2376 weighted support. We then stated that we needed to see ema5 cross and lock below 2376 to open the range below or a rejection here will follow with a retest back upto 2400.
- This is playing out perfectly, as we got the test and rejection on 2376. This gave us the perfect bounce of over 200 pips and still heading towards 2400, which just fell short.
We will continue to see play between both these two weighted levels and will look for ema5 to cross and lock either level to confirm the next range.
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
2400 - DONE
EMA5 CROSS AND LOCK ABOVE 2400 WILL OPEN THE FOLLOWING BULLISH TARGET
2423
POTENTIALLY 2438
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2459
POTEITNALLY 2475
BEARISH TARGETS
2376 - DONE
EMA5 CROSS AND LOCK BELOW 2376 WILL OPEN THE FOLLOWING BEARISH TARGET
2360
2344
EMA5 CROSS AND LOCK BELOW 2344 WILL OPEN THE SWING RANGE
SWING RANGE
2313- 2298
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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