GOLD WEEKLY CHART MID/LONG TERM PROJECTION UPDATE

Hey Everyone,

This is an update on our weekly chart idea that we have been tracking and trading for a number of months now.

CURRENT UPDATE

We are now seeing price test the channel entrance and would need to see a candle to break into the channel with ema5 to start seeing price play in the range above.

A break into the channel followed with a test on channel floor will open the full upper range play. Failure to break into the channel will see price reject back into 1956 Axis for a test at support.

Please see our last updates below to keep with the flow of the setups so far and how we have been tracking this chart.

We stated last week that we are on track with the long term plans on this chart idea. However the detachment below still pending and as such need to keep this in mind when buying dips this coming week.

- This played out as analysed, as we saw price come down to attach to ema5. We will now assess this in the coming week for dynamic suport from this ema5 attachment.

WE GOT THE DETACHMENT AND THEN THE BOUNCE AS SUGGESTED LAST WEEK AND NOW TESTING THE CHANNEL ENTRY

- This is crucial test on the weekly chart. We will either see a rejection here and a failure to break into the channel or a break into the channel to complete the last targets in this range.

We need to keep the above in mind and continue with our plans to buy dips, which will allow us to safely take the bounces from support.

Please don't forget to like, comment and follow to support us, we really appreciate it!

Have a great weekend all!

MR GOLD