GOLD WEEKLY CHART MID/LONG TERM PROJECTIONHey Everyone,
This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected.
So far we were able to track the entre move up and down twice with level to level tracking and our long term swing range zones have also provided the bounces each time.
LAST UPDATE
Last week we stated we were seeing price break out of the channel with a candle body close gap open to 2360, which was hit perfectly closing the gap and we also stated that we will need to see ema5 break out of the channel for further continuation above the channel with 2438, as our long range/term target. Failure of ema5 to break outside the channel will see price back into the channel for the channel half line challenge, as the new updated swing range.
Momentum took price all the way into 2404 and just short of our long range target at 2438. We will keep this in mind and continue with our plans to buy dips using our smaller timeframes, which will allow us to safely take the bounces from support.
CURRENT UPDATE
Price has maintained above the channel with our final long range target at 2438 still remaining. The extended levels 2475 and 2511 will only activated once we see a close above 2438 .
We would also like to see the price retest support above the channel top also inline with the ema5 detachment highlighted with the circle for a correction. Should price break back into the channel while correction then we will look for price to respect the levels int he channel once again for the bounces inline with our plans to buy dip level to level using our small time frames.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top
Please don't forget to like, comment and follow to support us, we really appreciate it!
MR GOLD
XAUUSD TOP AUTHOR
Goldsignalos
GOLD 1H ROUTE MAP & TRADING PLAN WITH UPDATED LEVELSHey Everyone,
Following on from yesterdays update another PIP-TASTIC day on the chart for us, with our bullish targets being hit with confirmation, to give us plenty of time to get in for the action.
After completing yesterdays targets, we advised of the ema5 break and lock above 2143 opening, 2153, 2159 and potentially 2167 if momentum allows.
Today we got the 2153 and 2159 HIT perfectly and just short of the momentum target of 2167 where momentum finished off at 2164.
2143 is now our range support. Any retracement that supports above 2143 will likely give us a retest of the targets today and if we get enough momentum then completion of the momentum target at 2167. However, a break below 2143 support level will open the range below.
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
2125 - DONE
EMA5 CROSS AND LOCK ABOVE 2125 WILL OPEN THE FOLLOWING BULLISH TARGETS
2133 - DONE
2143 - DONE
EMA5 CROSS AND LOCK ABOVE 2143 WILL OPEN THE FOLLOWING BULLISH TARGETS
2153 - DONE
2159 - DONE
POTENTIALLY 2167 -
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
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone,
Piptastic finish to the month with our Bullish targets complete!!!
As stated yesterday, market is ranging and leaving gaps both ways but we remain Bullish and will continue to buy dips.
- This played out perfectly with ema5 cross and lock above 2036 opening 2044 and 2048 - Both these targets were hit to completing this range.
We will now look for ema5 to lock above 2048 to open 2055 and potentially 2064. Failure to lock above will see price retrace back to support, keeping in mind the gaps below.
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
2036 - DONE
EMA5 CROSS AND LOCK ABOVE 2036 WILL OPEN THE FOLLOWING BULLISH TARGET
2044 - DONE
2048 - DONE
EMA5 CROSS AND LOCK ABOVE 2048 WILL OPEN THE FOLLOWING BULLISH TARGET
2055
POTENTIALLY 2064
BEARISH TARGETS
2030 - DONE
2025 - DONE
EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE
SWING RANGE
2016 - 2010
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