GOLD 4H CHART UPDATED LEVELS & TARGETS - UPDATE

8 Jan

Hey Everyone,

Great start to the week with our chart idea playing out as analysed. Both our 1H and 4h chart ideas provided the bounces from the Goldturns.

As stated that we were looking for price to play between 2055 and 2044 and either weighted level will need a break and lock to confirm the next range level.

We had the cross and lock below 2044 opening the retracement range, which was hit perfectly, followed with the bounce up from the retracement range clearing a clean 50pip plus catch inline with our plans to buy dips.

We would now need to see ema5 cross and lock below 2024 level to open the swing range or support here will see 2044 Goldturn re-test and a further break and lock above that will open range above again

We will look for each of the weighted levels to be broken with EMA5 to track the movement up or down in true level to level fashion.

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 for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.

BULLISH TARGETS
2055

EMA5 CROSS AND LOCK ABOVE 2055 WILL OPEN THE FOLLOWING BULLISH TARGET
2065
2070

BEARISH TARGETS
2044 - DONE

EMA5 CROSS AND LOCK BELOW 2044 WILL OPEN THE FOLLOWING BEARISH RETRACEMENT TARGET
2024 - DONE

EMA5 CROSS AND LOCK BELOW 2024 WILL OPEN THE SWING RANGE

SWING RANGE
1999

As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
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