GOLD 1H CHART ROUTE MAP & TRADING PLAN UPDATE

8 Nis

Hey Everyone,

Great start to the week with our chart idea playing out perfectly. Once again you can also see how well our algo generated levels are being respected in a range where no one has any existing levels to go by but our averaged levels are being respected like historical levels.

We got our Bullish target at 2338 hit and with momentum also 2353. However, as you can see ema5 failed to cross above 2338 weighted level, as highlighted yesterday confirming the rejection for price to drop into 2324 for support for the bounce.

We may see another attempt at 2338 for a test or failure to re-attempt will open the retracement range for a test and a further break below the retracement range will see the swing range open. Failure to lock below 2278 or 2240 will establish support above these ranges for re-tests on the levels above once again.

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 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.

BULLISH TARGETS
2338 - DONE

EMA5 CROSS AND LOCK ABOVE 2338 WILL OPEN THE FOLLOWING BULLISH TARGETS
2353 - DONE
2364

BEARISH TARGETS
2324
2299

EMA5 CROSS AND LOCK BELOW 2299 WILL OPEN THE FOLLOWING BEARISH TARGET
2278

EMA5 CROSS AND LOCK BELOW 2278 WILL OPEN THE SWING RANGE

SWING RANGE
2258 - 2240

As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

Mr Gold
GoldViewFX