GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price between two weighted levels. We have 2458 Goldturn resistance and 2423, as Goldturn support.
We currently have a candle body close above 2438 leaving a gap open to 2458. However, ema5 above 2438 will further confirm this.
We also have 2438 and 2423 as bearish support targets and will need a cross and lock below 2423 to open 2407 and 2394. A further ema5 lock below 2394 will open the swing range for the extended swing.
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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2458
EMA5 CROSS AND LOCK ABOVE 2458 WILL OPEN THE FOLLOWING BULLISH TARGET
2475
POTENTIALLY 2491
BEARISH TARGETS
2438
2423
EMA5 CROSS AND LOCK BELOW 2423 WILL OPEN THE FOLLOWING BEARISH TARGET
2407
2394
EMA5 CROSS AND LOCK BELOW 2394 WILL OPEN THE SWING RANGE
SWING RANGE
2369 - 2359
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
