GOLD ROUTE MAP UPDATE
Hey Everyone,
Another great day on the charts today with our chart idea playing out, as analysed.
Yesterday after hitting the bearish target 2567, we stated that we need ema5 to cross and lock below 2567 to open the retracement range for a test and failure to lock below 2567 and we will see the Goldlturns above being re-tested.
- No cross below 2567 confirmed the bounce and gave multiple bounces off this level of over 30 to 40 pips, just like we analysed and now left 2581 open for a re-test, which fell short by just a few pips.
We will see price range between 2567 and 2581, until we see a cross and lock on either level to confirm breakout to 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 are taking extra caution with our buys in this new range, as bigger corrections are likely.
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
2581 - DONE
EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET
2591
EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET
2603
POTENTIALLY 2615
BEARISH TARGETS
2567 - DONE
EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2554 - 2538
EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE
SWING RANGE
2516 - 2506
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
Another great day on the charts today with our chart idea playing out, as analysed.
Yesterday after hitting the bearish target 2567, we stated that we need ema5 to cross and lock below 2567 to open the retracement range for a test and failure to lock below 2567 and we will see the Goldlturns above being re-tested.
- No cross below 2567 confirmed the bounce and gave multiple bounces off this level of over 30 to 40 pips, just like we analysed and now left 2581 open for a re-test, which fell short by just a few pips.
We will see price range between 2567 and 2581, until we see a cross and lock on either level to confirm breakout to 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 are taking extra caution with our buys in this new range, as bigger corrections are likely.
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
2581 - DONE
EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET
2591
EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET
2603
POTENTIALLY 2615
BEARISH TARGETS
2567 - DONE
EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2554 - 2538
EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE
SWING RANGE
2516 - 2506
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
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