GOLD 4H CHART ROUTE MAP UPDATE

Sep 2

Hey Everyone,

Great start to the week with our 4H chart idea playing out inline with our plans to buy dips.

Price is still playing between two weighted levels. We had the support target at 2492 hit and complete perfectly with no cross and lock below the level confirming the rejection and providing the bounce.

We currently have a gap open above at 2519 and will need ema5 cross and lock above 2519 to open the range above or a failure to test and break 2519 will see a re-test at 2492 and a further cross and lock below 2492 will open the range below.

We need to also keep in mind the 1H chart has an open gap below from ema5 lock and further movement down is possible but we also need to keep in mind the US holiday today will skew that data and will need tomorrows data to assess the range .

We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next 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
2519

EMA5 CROSS AND LOCK ABOVE 2519 WILL OPEN THE FOLLOWING BULLISH TARGET
2536
POTENTIALLY 2550

BEARISH TARGETS
2492 - DONE

EMA5 CROSS AND LOCK BELOW 2492 WILL OPEN THE RETRACEMENT RANGE

RETRACEMENT RANGE
2468
2438

EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE SWING RANGE

SWING RANGE
2416 - 2389

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