GOLD 1H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price play between two weighted levels with a gap above at 4022 and a gap below at 3987. 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
4022
EMA5 CROSS AND LOCK ABOVE 4022 WILL OPEN THE FOLLOWING BULLISH TARGETS
4049
EMA5 CROSS AND LOCK ABOVE 4049 WILL OPEN THE FOLLOWING BULLISH TARGET
4074
BEARISH TARGETS
3987
EMA5 CROSS AND LOCK BELOW 3987 WILL OPEN THE FOLLOWING BEARISH TARGET
3955
EMA5 CROSS AND LOCK BELOW 3955 WILL OPEN THE FOLLOWING BEARISH TARGET
3924
EMA5 CROSS AND LOCK BELOW 3924 WILL OPEN THE SWING RANGE
3883
3848
EMA5 CROSS AND LOCK BELOW 3848 WILL OPEN THE SECONDAARY SWING RANGE
3819
3775
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
