GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP

١١ أغسطس

Hey Everyone,

Please see update on our weekly chart idea and analysis.

As stated last week, that although we have the final Axis target at 2505, we are expecting resistance and reaction here at 2434, at the channel top and will probably need a few attempts before cracking open the range above.

This played out perfectly with multiple attempts on the channel top and now we got the candle body close above 2434 opening the 2505 gap. However, ema5 cross and lock will further confirm this gap to solidify confirmation.

The drop early last week was only to touch ema5 for the detachment correction, which immediately followed with the push up inline with our plans to buy dips.

The levels within the channel will provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames.

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