GOLD 1H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEK

May 17

Hey Everyone,

Please see our 1H chart levels and targets for the coming week.

We are seeing price play between two weighted levels with a gap above at 4614 and a gap below at 4679, as support. We will need to see ema5 cross and lock on either weighted level to determine the next 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 20 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.

The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges.

BULLISH TARGET
4614

EMA5 CROSS AND LOCK ABOVE 4614 WILL OPEN THE FOLLOWING BULLISH TARGET
4679

EMA5 CROSS AND LOCK ABOVE 4679 WILL OPEN THE FOLLOWING BULLISH TARGET
4749

EMA5 CROSS AND LOCK ABOVE 4749 WILL OPEN THE FOLLOWING BULLISH TARGET
4931

BEARISH TARGETS
4521

EMA5 CROSS AND LOCK BELOW 4521 WILL OPEN THE FOLLOWING BEARISH TARGET
4445

EMA5 CROSS AND LOCK BELOW 4445 WILL OPEN THE SWING RANGE
4353
4262

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

May 17

Note

Typo correction 4826 not 4931 if ema5 locks above 4749