GOLD ROUTE MAP & TRADING PLAN UPDATE

9 בינו׳ 2024

Hey Everyone,

Please see update on our 1H chart idea.

Price hit our Bullish target at 2047 yesterday and then failed to cross and lock above confirming the rejection for us, which then played out into the retracement level and then 2020 Goldturn.

Both the retracement level and 2020 Goldturn provided the bounce inline with our plans to buys dips playing out perfectly for the clean catch for the 40 pip plus bounces.

We are seeing price play rage sideways and although we are bullish in terms of buying dips we need to keep in mind the retracement level has been broken and therefore the swing range is open for a potential test.

2020 Goldturn is acting as support for now and we would need to see ema5 cross and lock below 2020 to further solidify confirmation for the swing range test. However, support here and we are likely to see a test at 2047 Goldturn.

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 for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.

BULLISH TARGETS
2047 - DONE

EMA5 CROSS AND LOCK ABOVE 2047 WILL OPEN THE FOLLOWING BULLISH TARGET
2063
2074

BEARISH TARGETS
2032 - DONE

EMA5 CROSS AND LOCK BELOW 2032 WILL OPEN THE SWING RANGE
2005
1992

EMA5 CROSS AND LOCK BELOW SWING RANGE WILL OPEN THE SUPPORT STRUCTURE

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!

GoldViewFX
XAUUSD TOP AUTHOR