GOLD ROUTE MAP UPDATE
Hey Everyone,
Same as yesterday we are still playing within the retracement range and consolidating before FOMC.
2628 weighted level is still holding support and remains open and failure to lock below with ema5 will see a bounce from this level. However, EMA5 cross and lock below this level and we are likely to see the swing range open.
We have FOMC release in 45 minutes so need to keep this in mind for the non organic movement that will need to settle down for the levels to start respecting.
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
2666
EMA5 CROSS AND LOCK ABOVE 2666 WILL OPEN THE FOLLOWING BULLISH TARGET
2682
EMA5 CROSS AND LOCK ABOVE 2682 WILL OPEN THE FOLLOWING BULLISH TARGET
2697
EMA5 CROSS AND LOCK ABOVE 2697 WILL OPEN THE FOLLOWING BULLISH TARGET
2719
BEARISH TARGETS
2645 - DONE
EMA5 CROSS AND LOCK BELOW 2645 WILL OPEN THE FOLLOWING BEARISH TARGET
2628
EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE
SWING RANGE
2606 - 2586
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
Same as yesterday we are still playing within the retracement range and consolidating before FOMC.
2628 weighted level is still holding support and remains open and failure to lock below with ema5 will see a bounce from this level. However, EMA5 cross and lock below this level and we are likely to see the swing range open.
We have FOMC release in 45 minutes so need to keep this in mind for the non organic movement that will need to settle down for the levels to start respecting.
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
2666
EMA5 CROSS AND LOCK ABOVE 2666 WILL OPEN THE FOLLOWING BULLISH TARGET
2682
EMA5 CROSS AND LOCK ABOVE 2682 WILL OPEN THE FOLLOWING BULLISH TARGET
2697
EMA5 CROSS AND LOCK ABOVE 2697 WILL OPEN THE FOLLOWING BULLISH TARGET
2719
BEARISH TARGETS
2645 - DONE
EMA5 CROSS AND LOCK BELOW 2645 WILL OPEN THE FOLLOWING BEARISH TARGET
2628
EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE
SWING RANGE
2606 - 2586
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
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