GOLD DAILY CHART SHORT/MID TERM ROUTE MAP

13 Okt

Hey Everyone,

Please see update on our daily chart idea that we have been tracking for a while with the updated retracement and swing range.

Last week we highlighted our long range gap above at 2690, as we had ema5 cross and lock above 2645 opening 2690. We also stated that the daily chart averages are lagging so sometimes gaps get filled before ema5 confirmation, in which case candle body close gaps are suffice. On this occasion we have the ema5 lock.

We got the candle body clos below 2645 opening the retracement range. This was hit perfectly and also provided the weighted support bounce inline inline with our plans to buy dips knowing we have a long term gap target above.

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.

Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.

Buying dips allows us to safely manage any swings rather then chasing the bull from the top.

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

Mr Gold
GoldViewFX