Hey Everyone,
Please see our updated 4h chart levels and targets for the coming week.
We are seeing price break into the new range and testing resistance structure at 2171. We now also have a resistance target open to 2190.
We are looking for a re-test and break and lock above 2190 Goldturn resistance to confirm the range above or a failure to break and lock above 2190 Goldlturn resistance will see price head towards the retracement range at 2151.
A break and lock below this level will open the swing range. A cross and lock below the lower swing range at 2101 will open the structure support. However, support above here and we are likely to see a re-test of the levels above again.
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
2190
EMA5 CROSS AND LOCK ABOVE 2190 WILL OPEN THE FOLLOWING BULLISH TARGETS
2206
2223
BEARISH RETRACEMENT TARGETS
2171
2151
EMA5 CROSS AND LOCK BELOW 2151 WILL OPEN THE SWING RANGE
SWING RANGE
2125- 2101
EMA5 CROSS AND LOCK BELOW 2101 WILL OPEN THE STRUCTURE SUPPORT
STRUCTURE SUPPORT
2065- 2052
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