GOLD ROUTE MAP UPDATEHey Everyone,
PIPTASTIC day on the markets today with our chart idea playing out as analysed. Yesterday we had the break below 2901 bearish target, opening the first level of the retracement range at 2878, which just fell short by a few pips. This then provided the support for the bounce all the way into 2922 completing our Bullish target. We were able to take the ride up all the way from the retracement range, inline with our plans to buy dips
We are now looking for a lock above 2922 for a continuation or failure to lock will see price reject into the lower Goldturns for support and bounce, also keeping in mind the small gap left on the retracement 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
2922 - DONE
EMA5 CROSS AND LOCK ABOVE 2922 WILL OPEN THE FOLLOWING BULLISH TARGET
2947
EMA5 CROSS AND LOCK ABOVE 2947 WILL OPEN THE FOLLOWING BULLISH TARGET
2968
BEARISH TARGETS
2901 - DONE
EMA5 CROSS AND LOCK BELOW 2901 WILL OPEN THE FOLLOWING RETRACEMENT RANGE
2878 - 2851
EMA5 CROSS AND LOCK BELOW 2851 WILL OPEN THE SWING RANGE
SWING RANGE
2820 - 2796
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
