GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK AHEADHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price play between 2324 and 2338 on market close on Friday with 2338 open as a gap. This is a level of resistance and will need ema5 to cross and lock above 2338 to open the range above.
Failure to break the resistance structure 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
EMA5 CROSS AND LOCK ABOVE 2338 WILL OPEN THE FOLLOWING BULLISH TARGETS
2353
2364
BEARISH TARGETS
2324
2299
EMA5 CROSS AND LOCK BELOW 2299 WILL OPEN THE SWING RANGE
2206
EMA5 CROSS AND LOCK BELOW 2206 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
