GOLD 1H CHART ROUTE MAP UPDATEHey Everyone,
Please see update on our 1H chart idea from Sunday. We are still seeing sideways movement in the market. Generally when this happens, market leaves gaps open in both directions, which is typical of ranging market.
We got our bearish target hit at 2618 and now left a open gap below. We also saw attempts to our bigger bullish gap above at 2647 and still remains open. We are comfortable buying dips from the retracement range, as part of our plans to buy dips rather then chasing the full target. Should we get the full open bearish gaps complete first, we will use the gap levels below to buy dips.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for 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 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
2647
EMA5 CROSS AND LOCK ABOVE 2647 WILL OPEN THE FOLLOWING BULLISH TARGET
2668
EMA5 CROSS AND LOCK ABOVE 2668 WILL OPEN THE FOLLOWING BULLISH TARGET
2691
EMA5 CROSS AND LOCK ABOVE 2691 WILL OPEN THE FOLLOWING BULLISH TARGET
2719
BEARISH TARGETS
2618 - DONE
EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE FOLLOWING BEARISH TARGET
2595
EMA5 CROSS AND LOCK BELOW 2595 WILL OPEN THE SWING RANGE
SWING RANGE
2570 - 2551
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
