GOLD 1H CHART ROUTE MAP UPDATE

23 Okt

Hey Everyone,

A great day on the charts today with our 1H chart roue map playing out perfectly all week.

We started the week with both our weighted Bullish target 2730 and bearish target 2717 hit. No cross and lock below 2717 confirmed the support for the bounce and a cross and lock above 2730 confirmed the range above, opening 2739 and 2747.

Both 2739 and 2747 targets were completed followed with a further cross and lock above 2747 opening 2755 and 2761. 2755 was also hit today and 2761 just fell short, which is usually the case when momentum is exhausted but we are more than happy with this run that we were able to track and trade level to level all the way to the top and with a safe early exit before the rejection.

We are now seeing the rejection back into the weighted Goldturn level 2717, which will either provide support for another bounce up or a cross and lock below to confirm the lower range.

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
2730 - DONE

EMA5 CROSS AND LOCK ABOVE 2730 WILL OPEN THE FOLLOWING BULLISH TARGET
2739 - DONE
2747 - DONE

BEARISH TARGETS
2717 - DONE

EMA5 CROSS AND LOCK BELOW 2719 WILL OPEN THE FOLLOWING BEARISH TARGET

BEARISH TARGET
2706

EMA5 CROSS AND LOCK BELOW 2706 WILL OPEN THE RETRACEMENT RANGE

RETRACEMENT RANGE
2692 - 2682

EMA5 CROSS AND LOCK BELOW 2682 WILL OPEN THE SWING RANGE

SWING RANGE
2673 - 2661

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