GOLD 1H CHART ROUTE MAP & TRADING PLAN UPDATEHey Everyone,
Another Piptastic day with our chart idea completed with our final target at 2364 HIT. Once again you can see how well our levels were respected in a range where no one has any existing levels to go by, but our averaged levels are being respected to perfection like magic!!!
After yesterdays rejection into 2324, where price found support, as suggested for a retest of the levels above. We got the ema5 lock above 2338 Goldlturn weighted level opening and confirming 2353 and 2364.
- Both these targets were hit perfectly today!!
After completing 2364 to perfection, we are now seeing price reject here into 2338 to change resistance into support for the bounce.
We may see another attempt at the levels above for a test should 2338 now hold, as support or failure to re-attempt will open the levels below for a test and a further break below the retracement range will see the swing range open.
Failure to lock below 2338 and 2324 will establish support above this range for another retest at the ATH. A break below these two support levels will open the retracement range for the bounce.
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
2338 - DONE
EMA5 CROSS AND LOCK ABOVE 2338 WILL OPEN THE FOLLOWING BULLISH TARGETS
2353 - DONE
2364 - DONE
BEARISH TARGETS
2324 - DONE
2299
EMA5 CROSS AND LOCK BELOW 2299 WILL OPEN THE FOLLOWING BEARISH TARGET
2278
EMA5 CROSS AND LOCK BELOW 2278 WILL OPEN THE SWING RANGE
SWING RANGE
2258 - 2240
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
