GOLD 1H & 4H CHART ROUTE MAP UPDATE

22 Okt

Hey Everyone,

Another great day on the chart today with our 1H chart hitting the bearish target at 2719 after completing the bullish targets yesterday. No cross and lock below 2719, confirmed the weighted level bounce and back into the bullish targets again, inline with our plans to buy dips.

We now still have the remaining target at 2747 left, which will be further confirmed with ema5 lock above 2739.

1H CHART ROUTE MAP



This 4H chart after completing yesterdays target, we stated that we will now look for ema5 lock above 2737 to confirm the range above or failure to lock will follow with a rejection to test the lower Goldturns for reactional bounces.

- We got the rejection with the drop into the lower Goldturn 2715, followed with the perfect bounce, like we said back into 2737. We will now look for the same again; either a cross and lock above 2737 or a rejection here for the lower Goldturn reactional bounces 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
2737 (EMA5 LOCK ABOVE 2715 WILL FURTHER CONFIRM THIS) - DONE

EMA5 CROSS AND LOCK ABOVE 2737 WILL OPEN THE FOLLOWING BULLISH TARGET
2760
POTENTIALLY 2779

EMA5 CROSS AND LOCK ABOVE 2779 WILL OPEN THE FOLLOWING BULLISH TARGET
2797
POTENTIALLY 2814

BEARISH TARGETS
2715 - DONE
2693

EMA5 CROSS AND LOCK BELOW 2693 WILL OPEN THE FOLLOWING BEARISH TARGET
2669

EMA5 CROSS AND LOCK BELOW 2669 WILL OPEN THE SWING RANGE

SWING RANGE
2640

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