GOLD 4H CHART ROUTE MAP UPDATEHey Everyone,
Another great day on the chart today buying multiple dips inline with our chart idea.
Yesterday after hitting our bullish target at 2389, we got the rejection, as no ema5 lock above this level.
The rejection maintained support above 2349 Goldturn, allowing us to buy dips back to 2389 target. We will continue to see this level tested until broken for the range above. Failure to break and lock above this level after a few attempts will strengthen the resistance in which case we will likely see the 2326 Goldturn support level tested and broken to open the retracement range.
We will see rice now play between these two weighted level until we see a cross and lock on either weighted 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
2389 - DONE
EMA5 CROSS AND LOCK ABOVE 2389 WILL OPEN THE FOLLOWING BULLISH TARGETS
2410
2429
EMA5 CROSS AND LOCK ABOVE 2429 WILL OPEN THE FOLLOWING BULLISH TARGETS
2446
2467
POTENTIALLY 2490
BEARISH TARGETS
2326 - DONE
EMA5 CROSS AND LOCK BELOW 2326 WILL OPEN THE RETRACEMENT RANGE
2294
2274
EMA5 CROSS AND LOCK BELOW 2274 WILL OPEN THE SWING RANGE
SWING RANGE
2196 - 2180
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
Mr Gold
GoldViewFX
