GOLD ROUTE MAP UPDATEHey Everyone,
Quick follow up update on our 1H chart idea:
After completing both our Bullish target at 3352 and Bearish target at 3327, we now have a lock below 3327 which opened the swing range down towards 3304. We did get the drop, but not the full test of 3304 before price turned back up.
Right now, we are seeing a break back above 3327 and heading towards a retest of 3352 once again. This is in line with our ongoing plan to buy dips, but we must also keep in mind that the swing range remains open. This means any swings can still clear the gap left in that 3304 region before moving higher.
So, while we continue to buy dips, we need to be mindful that open swing ranges can extend moves in either direction.
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
3352 - DONE
EMA5 CROSS AND LOCK ABOVE 3352 WILL OPEN THE FOLLOWING BULLISH TARGETS
3374
EMA5 CROSS AND LOCK ABOVE 3374 WILL OPEN THE FOLLOWING BULLISH TARGET
3398
EMA5 CROSS AND LOCK ABOVE 3398 WILL OPEN THE FOLLOWING BULLISH TARGET
3422
BEARISH TARGETS
3327 - DONE
EMA5 CROSS AND LOCK BELOW 3327 WILL OPEN THE SWING RANGE
3304
3281
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
