GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP

8 wrz

Hey Everyone,

Please see update on our weekly chart idea and analysis that we have been tracking and trading for several months.

Last week we had the same again with a candle body close above 2505 again leaving a gap to 2557. We also stated that we need to keep in mind that we have a ema5 detachment below highlighted on the chart with a circle for a possible correction area.

- This played out perfectly by providing the correctional touch below on the highlighted area with a circle and then the bounce, which is also inline with the channel top support for the bounce just like we said.

All channels that break usually require the channel top to become support outside the channel for further continuations before new channels form.

Failure to provide support outside of the channel, means price breaks back into the channel, in which case the channel re-activates for trading and tracking level to level once again

Therefore, if we see a rejection before the gap and a break back into the channel then we will use the levels within the channel to provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames keeping in mind the long range gap for the future..

Buying dips allows us to safely manage any swings, instead of chasing the bull from the top.

Thank you all for your likes, comments and follows, we really appreciate it!

Mr Gold
GoldViewFX