GOLD ROUTE MAP UPDATEHey Everyone,
A piptastic day on the charts today with our trading idea and plan playing out to perfection.
Last update we advised of the retracement range challenge and then the perfect reactional bounce leaving a gap target to 2336.
- This target was hit perfectly today followed with a cross and lock above 2336 opening 2356, which was also hit completing this range. This is true level to level trading in play.
We will now need to see ema5 lock above 2356 to open the range above or a rejection before this will follow to find support at the 2336 Goldturn. A further cross and lock below 2336 will open the retracement range again.
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
2336 - DONE
EMA5 CROSS AND LOCK ABOVE 2336 WILL OPEN THE FOLLOWING BULLISH TARGET
2356 - DONE
BEARISH TARGETS
2307 - DONE
EMA5 CROSS AND LOCK BELOW 2307 WILL OPEN THE SWING RANGE
SWING RANGE
2290 - 2275
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
