GOLD ROUTE MAP UPDATE

Aug 5

Hey Everyone,

Great start to the week with our 1h chart idea playing out, as analysed.

Yesterday we stated that we have a candle body close above 2438 leaving a gap open to 2458 and ema5 lock will further confirm this.

- This target was hit. No further cross and lock above 2458, which confirmed the rejection.

We also stated that we have 2438 and 2423 as bearish support targets and will need a cross and lock below 2423 to open 2407 and 2394. A further ema5 lock below 2394 will open the swing range for the extended swing.

- This also played out perfectly completing all the bearish targets and then followed with the swing range. The swing range did exactly what it says on the tin, by providing the perfect extended swing, inline with our plans to buy dips - BOOOOOOM!!!!!

Price is back in the range and therefore all weighted levels are active again and can be tracked level to level using the chart ideas shared.

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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.


EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2458 - DONE

EMA5 CROSS AND LOCK ABOVE 2458 WILL OPEN THE FOLLOWING BULLISH TARGET
2475
POTENTIALLY 2491

BEARISH TARGETS
2438 - DONE
2423 - DONE

EMA5 CROSS AND LOCK BELOW 2423 WILL OPEN THE FOLLOWING BEARISH TARGET
2407 - DONE
2394 - DONE

EMA5 CROSS AND LOCK BELOW 2394 WILL OPEN THE SWING RANGE

SWING RANGE
2369 - 2359
SWING ACTION NICELY COMPLETE!!

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