GOLD WEEKLY CHART MID/LONG TERM PROJECTION UPDATE

4 Feb

Hey Everyone,

This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected.

So far we were able to track the entre move up and down twice with level to level tracking and our long range swing range zones also providing the bounces each time

LAST WEEKS UPDATE
Price is still ranging between the axis level and the weekly swing range. We will need to see a test and break on either level to confirm the next challenge either for the channel half line above or a breakout below the channel.

CURRENT UPDATE
We got the 2048 axis hit last week, as analysed but price failed to close above the axis level and also ema5 is still sitting between the range. We will need to at least see a weekly candle body close above the axis level and ema5 for a stronger confirmation for the range above to re-open.

We need to keep the above in mind and continue with our plans to buy dips using our smaller timeframes, which will allow us to safely take the bounces from support.

Please don't forget to like, comment and follow to support us, we really appreciate it!

MR GOLD
XAUUSD TOP AUTHOR