GOLD 4H CHART UPDATED LEVELS & TARGETS

Hey Everyone,

Please see our updated 4h chart levels and targets for the coming week.

We had a nice Bullish week for Gold last week with our weighted level at 1937 providing good support for the bounce.

1983 resistance is being tested now with a candle body close above 1983 leaving a gap to 1998. However, EMA5 did a turn and failed to lock above confirming the rejection.

We are looking for another retest at 1983 and a ema5 cross and lock above 1983 to open the range above.

The breaks and locks will allow us to track the movement down and our weighted levels allowed us to buys dips for 30 to 40 pips, as you can see on the chart.

We now have a bullish target at 1983 and a cross of ema5 above 1983 will open the upper range.

We also have a retracement range at 1966 for a reactional bounce and if we get a cross and lock below this level with ema5 then the swing range will be open for a reactional bounce.

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 the 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 for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.

BULLISH TARGETS
1988

EMA5 CROSS AND LOCK ABOVE 1983 WILL OPEN THE FOLLOWING BULLISH TARGET
1998
2017

BEARISH TARGETS - RETRACEMENT RANGE
1966

EMA5 CROSS AND LOCK BELOW 1966 WILL OPEN THE SWING RANGE

SWING RANGE
1937

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!

GoldViewFX
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