GOLD ROUTE MAP UPDATE

28 ago

Hey Everyone,

Another great day on the charts today with a repeat of yesterdays action.

We had another cross and lock above 2513 opening 2525, which was hit once again. This followed with no ema5 lock above 2525 confirming the rejection into the 2500 range, which once again gave multiple bounces, as analysed inline with our plans to buy dips.

We will now once again look for another 2513 re-test and further cross and lock above to re-open the range above or a cross and lock below 2500 to open the full retracement range. Currently we are continuing to use the support above 2500 to buy dips.

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 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
2513 - DONE

EMA5 CROSS AND LOCK ABOVE 2513 WILL OPEN THE FOLLOWING BULLISH TARGET
2525 - DONE
2535

BEARISH TARGETS
2500 - DONE

EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE

RETRACEMENT RANGE
2484

EMA5 CROSS AND LOCK BELOW 2484 WILL OPEN THE SWING RANGE

SWING RANGE
2472 - 2461

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