GOLD 4H CHART ROUTE MAP UPDATEHey Everyone,
Another great day on the charts today, with our plans to buy dips playing out perfectly!!!
After getting the 1st level swing range bounce earlier this week, yesterday we stated that we were now looking for ema5 to lock below 2391 to open the full swing range and failure to lock below this level will provide another bounce to retest the levels above.
- This played out perfectly with no lock below 2391, which followed with the perfect bounce and now heading towards 2416. We are looking for play between 2391 and 2416 on this 4H chart and will need ema5 lock to break 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 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.
BULLISH TARGETS
2467
EMA5 CROSS AND LOCK ABOVE 2467 WILL OPEN THE FOLLOWING BULLISH TARGET
2491
POTENTIALLY 2510
BEARISH TARGETS
2438 - DONE
EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE FOLLOWING BEARISH TARGETS
2416 - DONE
2391 - DONE
EMA5 CROSS AND LOCK BELOW 2391 WILL OPEN THE SWING RANGE
SWING RANGE
2369 (DONE) - 2345
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
