GOLD ROUTE MAP UPDATE

20 Agu

Hey Everyone,

Another great day on the charts today with our analysis playing out perfectly.

Yesterday after hitting the retracement range we got the bounce and advised that it was heading for 2509.

- 2509 was hit perfectly followed with cross and lock opening 2519 and potentially 2533, should momentum allow. 2519 was also hit today and upto 2532 slightly short of 2533. Just beautiful how the analysis played out.

We are now seeing 2500 Goldturn provide support and will like to see new the upper levels retested. Failure to break into 2533 will follow with a stronger rejection. We are likely to see price range between these weighted levels to establish a range before breaking out. We will confirm the breakout with our cross and lock strategy above or below the weighted levels to confirm direction.

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
2509 - DONE

EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533

BEARISH TARGETS
2500 - DONE

EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE

RETRACEMENT RANGE
2488 (DONE) - 2472

EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE

SWING RANGE
2458 - 2446

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