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 2428 Goldturn resistance and 2382, as Goldturn support. We also have 2406 as an open gap that will need a candle body close to open 2428.
We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range.
We will need ema5 to above 2428 to confirm the range above. We also have 2382, as the weighted support area and will need ema5 lock below this level to open 2360 and a cross and lock below 2360 will open the swing range for the extended swing.
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
2406
2428
EMA5 CROSS AND LOCK ABOVE 2428 WILL OPEN THE FOLLOWING BULLISH TARGET
2450
EMA5 CROSS AND LOCK ABOVE 2450 WILL OPEN THE FOLLOWING BULLISH TARGET
2467
2481
POTENTIALLY 2495
BEARISH TARGETS
2382
EMA5 CROSS AND LOCK BELOW 2382 WILL OPEN THE FOLLOWING BEARISH TARGET
2360
EMA5 CROSS AND LOCK BELOW 2360 WILL OPEN THE SWING RANGE
SWING RANGE
2330 - 2303
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
