GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK
Hey Everyone,
Please see our updated 4h chart levels and targets for the coming week, which we have been tracking and trading for the last two weeks and only updating the retracement and swing range, as we go on.
Last week we stated that we had candle body close gap open to at 2737 on market open but needed ema5 cross and lock will further confirm this.
- This played out last week perfectly and gave us the mea5 lock confirmation followed with the target hit.
We also stated that we had a bearish target below at 2715.
- This target a=was also completed last week
We now have a candle body close above 2737 opening 2760 and ema5 cross and lock will further confirm and solidify this gap. We have support below at 2737 and weighted support at 2715. A break below the weighted support will open the range below otherwise we are likely to see bounces from these support levels.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for 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 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
2760 (EMA5 LOCK ABOVE 2737 WILL FURTHER CONFIRM THIS)
POTENTIALLY 2779
EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET
2797
POTENTIALLY 2814
BEARISH TARGETS
2737
2715
EMA5 CROSS AND LOCK BELOW 2715 WILL OPEN THE SWING RANGE
SWING RANGE
2693 - 2669
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
Please see our updated 4h chart levels and targets for the coming week, which we have been tracking and trading for the last two weeks and only updating the retracement and swing range, as we go on.
Last week we stated that we had candle body close gap open to at 2737 on market open but needed ema5 cross and lock will further confirm this.
- This played out last week perfectly and gave us the mea5 lock confirmation followed with the target hit.
We also stated that we had a bearish target below at 2715.
- This target a=was also completed last week
We now have a candle body close above 2737 opening 2760 and ema5 cross and lock will further confirm and solidify this gap. We have support below at 2737 and weighted support at 2715. A break below the weighted support will open the range below otherwise we are likely to see bounces from these support levels.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for 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 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
2760 (EMA5 LOCK ABOVE 2737 WILL FURTHER CONFIRM THIS)
POTENTIALLY 2779
EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET
2797
POTENTIALLY 2814
BEARISH TARGETS
2737
2715
EMA5 CROSS AND LOCK BELOW 2715 WILL OPEN THE SWING RANGE
SWING RANGE
2693 - 2669
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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