GOLD 4H CHART ROUTE MAP UPDATEHey Everyone,
A volatile day in the markets today from the US election and once again we were able to use our levels to navigate the markets even on a volatile day like this.
We did not chase momentum but instead we stuck with our plans to buy dips from our weighted levels for a 30 to 40 clean catch from 2700 level.
We are now seeing a further breakdown into the retracement range. EMA5 is lagging due to market momentum. However, although we are seeing price in the retracement range and ema5 lagging behind we will need to see ema5 lock below 2672 to open the swing range. Failure to cross and lock below 2672 will see price push up to test the Goldturns above.
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 TARGET
2754
EMA5 CROSS AND LOCK ABOVE 2754 WILL OPEN THE FOLLOWING BULLISH TARGET
2784
BEARISH TARGETS
2724 - DONE
EMA5 CROSS AND LOCK BELOW 2724 WILL OPEN THE FOLLOWING BEARISH TARGET
2696 - DONE
EMA5 CROSS AND LOCK BELOW 2696 WILL OPEN THE RETRACEMENT RANGE
2672 - DONE
EMA5 CROSS AND LOCK BELOW 2672 WILL OPEN THE SWING RANGE RANGE
SWING RANGE
2640 - 2611
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
