GOLD ROUTE MAP UPDATE

16 Okt

Hey Everyone,

A PIIPTASTIC day on the charts for us today, once again playing out perfectly!!!

Yesterday after hitting our bullish target at 2663, we stated that we will now look for a cross and lock above 2663 to open 2672. We got the cross and lock followed with the perfect hit at 2672 completing this target.

We then waited for ema5 cross and lock above 2672 to open 2682, as the final target and 2682 only as a potential should momentum allow. We got the cross and lock above 2672 followed with 2682 for a perfect finish to the day!!!

We used the dips to catch the bounces up safely, instead of chasing the bull from the top. We are now looking for support above 2663 and 2672 for another retest on the Goldturn levels above or failure to hold support above these levels will see prices retest the lower Goldturns once again.

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
2663 - DONE

EMA5 CROSS AND LOCK ABOVE 2663 WILL OPEN THE FOLLOWING BULLISH TARGET
2672 - DONE

EMA5 CROSS AND LOCK ABOVE 2672 WILL OPEN THE FOLLOWING BULLISH TARGET
2682- DONE
POTENTIALLY 2690

BEARISH TARGETS
2654 - DONE

EMA5 CROSS AND LOCK BELOW 2654 WILL OPEN THE FOLLOWING BEARISH TARGET

BEARISH TARGET
2646 - DONE

EMA5 CROSS AND LOCK BELOW 2646 WILL OPEN THE RETRACEMENT RANGE

RETRACEMENT RANGE
2638 (DONE) - 2628

EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE

SWING RANGE
2618 - 2608

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