GOLD 4H CHART ROUTE MAP UPDATE

5月29日

Hey Everyone,

Another great day on the chart today, tracking the movement up and down.

Yesterday we stated after hitting 2361 that we now need to see ema5 lock above 2361 to open the next target or rejection with no lock. We were able to get a few more hits on the 2361 level during Tokyo session and were able to use the smaller timeframes to buy dips.

2361 failed to cross with ema5 and therefore confirmed the rejection that we are seeing now towards the 2322 weighted level. As long as ema5 remains above 2322, we can use our smaller time-frames and intraday levels to buy dips from this range.

Our 1h chart has a gap open to 2365, which was just short by a few pips but as good as done and we have support at 2331 on the 1H chart. We will keep this in mind, as we track both charts.

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 share 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.

BULLISH TARGETS
2361 - DONE

EMA5 CROSS AND LOCK ABOVE 2361 WILL OPEN THE FOLLOWING BULLISH TARGET
2385

EMA5 CROSS AND LOCK ABOVE 2385 WILL OPEN THE FOLLOWING BULLISH TARGET
2416

BEARISH TARGETS
2322

EMA5 CROSS AND LOCK BELOW 2322 WILL OPEN THE FOLLOWING BEARISH TARGET
2290

EMA5 CROSS AND LOCK BELOW 2290 WILL OPEN THE FOLLOWING SWING RANGE

SWING RANGE
2274 - 2246

As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

Mr Gold
GoldViewFX