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.
We are seeing price between two weighted levels. We have 2590 Goldturn resistance and we have 2564, as Goldturn support.
We currently have a gap open above at 2590 and below at 2564 and will need ema5 cross and lock on either weighted level to determine the next range.
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
2590
EMA5 CROSS AND LOCK ABOVE 2590 WILL OPEN THE FOLLOWING BULLISH TARGET
2608
POTENTIALLY 2626
BEARISH TARGETS
2564
EMA5 CROSS AND LOCK BELOW 2564 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2545 - 2517
EMA5 CROSS AND LOCK BELOW 2517 WILL OPEN THE SWING RANGE
SWING RANGE
2493 - 2468
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
