GOLD 1H CHART ROUTE MAP UPDATEHey Everyone,
After completing the range target yesterday at 2421, we also had ema5 leave a gap to 2438. We got the push up into the range but left the gap short before the rejection. This is why we always buy from dips and not from the top.
We got the test into 2380 weighted Goldturn support that we stated yesterday. Cross and lock below 2380 opened 2359, which was also hit perfectly. We will now need to see ema5 lock below 2359 to open the swing range or we will see a reaction here
So far, even with the rejection into the support zones; each of the weighted Goldturns gave the 30 to 40 pip bounces, inline with our plans to buy dips and as analysed. Once again we were able to capitalise on this by tracking the movement down and catching the 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
2400 - DONE
2421 - DONE
EMA5 CROSS AND LOCK ABOVE 2421 WILL OPEN THE FOLLOWING BULLISH TARGET
2438
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2458
BEARISH TARGETS
2380 - DONE
EMA5 CROSS AND LOCK BELOW 2380 WILL OPEN THE FOLLOWING BEARISH TARGET
2359 - DONE
EMA5 CROSS AND LOCK BELOW 2359 WILL OPEN THE SWING RANGE
SWING RANGE
2331 - 2317
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
