GOLD DAILY CHART MID TERM PROJECTION

Feb 4

Hey Everyone,

Please see our daily chart idea that we have been tracking for a while now, which is playing out and respecting the channel dynamics perfectly.

Last week we stated we were seeing price head towards 2043 and will need to see a break above this level with ema5 to open test for the range above or a failure to close above this level will see price retrace back down to complete the channel bottom test.

- We got the 2043 hit last week, as analysed and now we are seeing ema5 challenge the level. This week will be crucial to see either ema5 cross and lock above 2043 to open the range above or a new Goldturn formation below 2043 to confirm rejection into the channel bottom.

We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.

Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups.

Buying dips allows us to safely manage any swings rather then chasing the bull from the top

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

MR GOLD
XAUUSD TOP AUTHOR