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GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Our 1H chart is idea playing out perfectly, as analysed!! As advised yesterday we got the 2746 hit, followed with ema5 cross and lock above 2746 opening 2752 and 2762. Both targets were hit today completing this range range. We will now look for ema5 lock above 2762 to open the range above or failure to lock will follow with a rejection into the lower Goldturn for support and 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 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 TARGETR 2746 - DONE EMA5 CROSS AND LOCK ABOVE 2746 WILL OPEN THE FOLLOWING BULLISH TARGET 2752 - DONE 2762 - DONE BEARISH TARGETS 2736 - DONE EMA5 CROSS AND LOCK BELOW 2736 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2728 (DONE) - 2720 EMA5 CROSS AND LOCK BELOW 2720 WILL OPEN THE SWING RANGE RANGE SWING RANGE 2707 - 2692 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
OANDA:XAUUSD
by Goldviewfx
17
Gold prices slipped slightly this week amid strong USD demand.Gold prices (XAU/USD) faced pressure on Friday, erasing some of the previous gains due to USD buying amid a weaker dollar and expectations of less aggressive easing from the Fed. Positive sentiment in the stock market also reduced demand for gold. However, political uncertainty in the U.S. ahead of the November 5 presidential election, ongoing geopolitical risks in the Middle East, and falling Treasury yields continued to support gold prices, leading to caution about whether XAU/USD has peaked. Personal opinion: The 2,640-2,645 range is becoming a strong barrier. If the price breaks above this level, the head and shoulders pattern will be invalidated, allowing gold to challenge the historical high around 2,658-2,659 that it reached earlier this week. If it continues to rise, XAU/USD could reach 2,770, which corresponds to the resistance level of the nearly four-month upward trend, before targeting the round number of 2,800. Attention to price range: Buy Zone: 2719 - 2717 SL: 2712 Sell Zone: 2748 - 2750 SL: 2755 Sell Zone: 2758 - 2760 SL: 2765
OANDA:XAUUSDLong
by Chana-Trading
GOLD ROUTE MAP UPDATEHey Everyone, Great start to the week with our plans to buy dips playing out perfectly! Market opened with a gap down hitting our bearish target at 2636 followed with a cross and lock opening the retracement range. 2728 Goldturn was hit perfectly followed with a bounce into 2736 and now heading towards 2746. We already had a candle body close above 2746 before market open with a gap above at 2752. Ema5 cross and lock above 2746 will open the full range above. Failure to test and break 2746 will see price test the lower Goldturns again, keeping in mind the full retracement range. 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. EMA5 CROSS AND LOCK ABOVE 2746 WILL OPEN THE FOLLOWING BULLISH TARGET 2752 2762 BEARISH TARGETS 2736 - DONE EMA5 CROSS AND LOCK BELOW 2736 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2728 (DONE) - 2720 EMA5 CROSS AND LOCK BELOW 2720 WILL OPEN THE SWING RANGE RANGE SWING RANGE 2707 - 2692 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
OANDA:XAUUSD
by Goldviewfx
12