GOLD 4H CHART ROUTE MAP UPDATE

18 lug

Hey Everyone,

Please see update on our 4H chart idea that we shared on Sunday.

Our 4h chart started with price between two weighted levels. We had 2416 Goldturn resistance and 2397, as Goldturn support.

The weighted support level held with no cross and lock below 2397 confirming the rejection for the bounce into 2416 followed with 2425 and 2437, which were both hit perfectly. We then had 2449 and 2460 to complete the range.

We are now looking for ema5 to cross and lock above 2467 to open the range above. Failure to lock above will see rejection into the lower Goldturns to find support and then track level to level once again.

We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range.

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
2416 - DONE

EMA5 CROSS AND LOCK ABOVE 2416 WILL OPEN THE FOLLOWING BULLISH TARGET
2425 - DONE
2437 - DONE

EMA5 CROSS AND LOCK ABOVE 2437 WILL OPEN THE FOLLOWING BULLISH TARGET
2449 - DONE
2460 - DONE

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