GOLD ROUTE MAP & TRADING PLANS FOR THE WEEK AHEAD

Hey Everyone,

Please see our updated 1h chart levels and targets for the coming week.

We had a continuation of the strong move up last week with price finishing off with testing weighted resistance at 2005 with a candle body close gap open to 2018. However, if we get a ema5 cross and lock above 2005 will open the full range above into the next weighted level test.

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.

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
2018

EMA5 CROSS AND LOCK ABOVE 2005 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
1950

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
XAUUSD TOP AUTHOR

Comment:

Price is supporting above 1989 just above the retracement range. We are likely to see reaction here on this Goldturn.

Comment:

We got a nice bounce into 2005 this morning. No cross and lock above 2005 followed with the rejection into our full retracement range at 1978 for the 30 to 40 pip bounce as stated. - BOOOOM

Comment:

1978 tested and we got the Bounce as suggested. -BOOOOM

Comment:

Bounce to 1989 done from 1978 bounce as suggested. Move stop and TRAIL to 2005

Comment:

1978 failed to break with ema5 once again and followed with another bounce inline with our plans to buy dips