GOLD 4H CHART ROUTE MAP UPDATE Hey Everyone,
Another productive session on the charts, with our strategy of buying dips delivering solid results once again.
This is a follow up on our 4-hour chart setup. The week began with our initial bearish targets being achieved, each confirmed by decisive candle body closures. Additionally, momentum conditions allowed for EMA5 lock confirmations at key levels, reinforcing the validity of the moves.
Today, price action tested the secondary swing range following a confirmed break and EMA5 lock below the primary swing zone. This led to a clean retracement and a reaction from the secondary swing range, with price covering the full range of the swing, a strong technical sign of structure respecting prior levels.
Looking ahead, we are closely monitoring for one of two scenarios:
1. Primary swing range completion – If price continues its upward momentum and completes the move back to the primary range, this could set the stage for a potential breakout.
2. Rejection at current zone – Should price fail to reclaim the primary swing range, we anticipate a retest of the lower Goldturn zones as support. A successful hold and bounce from this level would reinforce the broader range dynamics and offer renewed long opportunities.
We'll remain reactive to price structure and momentum alignment, especially in relation to key support/resistance levels.
Mr Gold
GOLDVIEWFX
