GOLD 1H CHART ROUTE MAP FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price test 2393 on market close last week with a candle body close gap to 2408 weighted level. We will need to see ema5 lock to further confirm this.
We will need to see ema5 lock above 2408 to further open the range above or a rejection will follow to find support at 2371. A cross and lock below 2371 will open the retracement range and a further cross and lock below 2333 will open the swing 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 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
2393
2408
EMA5 CROSS AND LOCK ABOVE 2408 WILL OPEN THE FOLLOWING BULLISH TARGETS
2422
2440
AND POTENTIALLY 2454
BEARISH TARGETS
2371
EMA5 CROSS AND LOCK BELOW 2371 WILL OPEN THE RETRACEMENT RANGE
2355
2333
EMA5 CROSS AND LOCK BELOW 2333 WILL OPEN THE SWING RANGE
SWING RANGE
2278- 2258
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
