GOLD ROUTE MAP & TRADING PLANS FOR THE WEEK AHEAD
Hey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
After a strong continuation of the strong move up over the last two weeks we saw price bounce between a range last week without clearing the 2000 range. We have another retest open at 2003 and a ema5 cross and lock above 2003 will open the range into 2018 and potentially 2032.
We also have a correctional retracement zone at 1978. A break below the retracement range will see a test to the swing range for a bounce and a failure to lock below the retracement range will see a bounce up from this level into 1989.
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 the 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
2003
EMA5 CROSS AND LOCK ABOVE 2003 WILL OPEN THE FOLLOWING BULLISH TARGET
2018
2032
EMA5 CROSS AND LOCK ABOVE 2032 WILL OPEN 2047 AND 2066
BEARISH TARGETS (RETRACEMENT RANGE)
1989
1978
EMA5 CROSS AND LOCK BELOW 1978 WILL OPEN THE SWING RANGE
SWING RANGE
1952
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!
