Please see our updated 1h chart levels and targets for the coming week.
We are seeing price play between two structures, support at 2158 Goldturn and resistance at 2169 Goldturn.
We are looking for a bullish test on 2169 and a break and lock above 2169 will open the range above. We also have a immediate bearish test at 2158 and a break and lock below 2158 will open the retracement range and a further break below the retracement range will see the swing range open.
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 2169
EMA5 CROSS AND LOCK ABOVE 2169 WILL OPEN THE FOLLOWING BULLISH TARGETS 2175 2181
BEARISH TARGETS 2158
EMA5 CROSS AND LOCK BELOW 2158 WILL OPEN THE RETRACEMENT RANGE 2148
EMA5 CROSS AND LOCK BELOW 2148 WILL OPEN THE SWING RANGE
SWING RANGE 2138 - 2125
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!