Another great day the charts with our chart idea playing out in usual fashion. After completing our bearish target on our last update, we stated that price was heading towards 2629 to complete the Bullish target that was left short by a few pips previously.
- 2629 bullish target was hit perfectly followed with ema5 cross and lock opening 2655. This target is now also complete, which gave plenty of time from confirmation to getting hit.
We will now wait for a cross and lock above 2655 for further continuation or failure to lock above will see price reject and find support at the lower Goldlturns for a reaction.
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 shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET 2629 - DONE
EMA5 CROSS AND LOCK ABOVE 2629 WILL OPEN THE FOLLOWING BULLISH TARGET 2655 - DONE
EMA5 CROSS AND LOCK ABOVE 2655 WILL OPEN THE FOLLOWING BULLISH TARGET 2694
EMA5 CROSS AND LOCK ABOVE 2694 WILL OPEN THE FOLLOWING BULLISH TARGET 2726
BEARISH TARGETS 2600 - DONE
EMA5 CROSS AND LOCK BELOW 2600 WILL OPEN THE FOLLOWING BEARISH TARGET 2561
EMA5 CROSS AND LOCK BELOW 2561 WILL OPEN THE SWING RANGE
SWING RANGE 2519 - 2486
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Its NYE today and the markets closed tomorrow. Looking forward to another smashing year. Wishing you all a blessed year ahead!!
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