GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone,
Great start to the week with our chart idea playing out in true level to level fashion.
We started with the play into the highlighted retracement range with no cross and lock below confirming the bounce, as highlighted by our arrow onto the 2155 Goldturn for the perfect reaction and now heading towards our Bullish target at 2166
A cross and lock above 2166 will open the range above and a failure to lock above will follow with a rejection back to 2155 and 2147. If 2147 Goldturn support breaks we are likely to see the swing range open.
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
2166
EMA5 CROSS AND LOCK ABOVE 2166 WILL OPEN THE FOLLOWING BULLISH TARGETS
2175
2182
BEARISH RETRACEMENT TARGETS
2155 - DONE
2147 - DONE
EMA5 CROSS AND LOCK BELOW 2147 WILL OPEN THE SWING RANGE
SWING RANGE
2137 - 2129
EMA5 CROSS AND LOCK BELOW 2129 WILL OPEN THE STRUCTURE SUPPORT
STRUCTURE SUPPORT
2113
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
