GOLD ROUTE MAP UPDATE

22 Ağu

Hey Everyone,

Once again our levels were respected and provided the calibrated bounces inline with our plans to buy dips.

Yesterday we advised that we were now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.

- 2519 was hit and then no lock confirmed the rejection into 2500 and then a break of 2500 followed with the full retracement range test. The retracement level gave the bounce exactly like we shared and more than 40 pips.

We will now look for a 2488 re-test and a failure to cross and lock above this level will follow with a rejection into the retracement range again. A further cross and lock below the retracement range will open the swing range for the extended swing bounce.

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 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.

BULLISH TARGET
2509 - DONE

EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533

BEARISH TARGETS
2500 - DONE

EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE

RETRACEMENT RANGE
2488 (DONE) - 2472 (DONE)

EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE

SWING RANGE
2458 - 2446

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