GOLD DAILY CHART MID/LONG TERM UPDATE

przedwczoraj

Hey Everyone,

Please see the daily chart update we have been trading and tracking for a while now, to give you all an overall view of the range.

After completing a nice run of bull targets over the last few months, we last updated this chart stating we were playing between two weighted levels 2629 and 2686 and 2629 was still providing support with no ema5 lock below leaving a the gap open again at 2686.

2686 was hit again last week completing this target one again with no further lock above 2686 confirming the rejection for the move down.

We will continue to see play between 2629 and 2686 until we see a break with ema5 lock to confirm the next range.

We will use our smaller timeframe analysis on the 1H and 4H chart to buy dips from the weighted Goldturns for 30 to 40 pips clean. Ranging markets are perfectly suited for this type of trading, instead of trying to hold longer positions and getting chopped up in the swings up and down in the range.

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 using our smaller timeframe ideas.

Our long term bias is Bullish and therefore we look forward to drops like this, which allows us to continue to use our smaller timeframes to buy dips using our levels and setups.

Buying dips allows us to safely manage any swings rather then chasing the bull from the top.

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

Mr Gold
GoldViewFX