We posted this chart idea last Sunday with our Bullish targets all the way into 2206.
We had the 2151 test earlier this week for support, as highlighted on the chart with no cross and lock below confirming the rejection for the bounce into 2171 weighted Goldlturn. Ema5 then gave us the cross and lock above 2171 confirming 2190 and 2206 , which was hit perfectly completing this chart idea.
Failure to now lock above 2206 confirmed the rejection into 2171 now acting, as support. If we see ema5 lock below 2171, we will see 2151 retest and failure to lock below 2171 will see another retest above at 2190.
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 2171 - DONE
EMA5 CROSS AND LOCK ABOVE 2171 WILL OPEN THE FOLLOWING BULLISH TARGETS 2190 - DONE 2206 - DONE
BEARISH RETRACEMENT TARGETS 2151 - DONE
EMA5 CROSS AND LOCK BELOW 2151 WILL OPEN THE SWING RANGE
SWING RANGE 2101 - 2078
EMA5 CROSS AND LOCK BELOW 2078 WILL OPEN THE STRUCTURE SUPPORT
STRUCTURE SUPPORT 2052 - 2042
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!