GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP

28 Jul

Hey Everyone,

Please see update on our weekly chart idea.

Previously we had 2434 open gap hit perfectly completing this range target and the channel top test.

We mentioned last week that although we have the final Axis target at 2505, we are expecting resistance and reaction here at 2434, at the channel top and will probably need a few attempts before cracking open the range above.

- This played out perfectly, as we got the rejection after hitting our final target and the channel top provided the dynamic resistance and re-action we were expecting, which followed with the perfect rejection end of last week.

We would need to see a candle body close above 2434 in the coming weeks/months to confirm this gap or an ema5 cross and lock for a double confirmation.

The levels within the channel will provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames.

Buying dips allows us to safely manage any swings, instead of chasing the bull from the top.

Thank you all for your likes, comments and follows, we really appreciate it!

Mr Gold
GoldViewFX