GOLD 4H CHART UPDATED LEVELS & TARGETS

3 дек. 2023 г.

Hey Everyone,

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

We had a nice Bullish week last week clearing all our Bullish Targets.

We are now seeing price test resistance at 2058 with ema5 with a candle body close above the level leaving a big gap to 2081.

However, we would need to see ema5 cross above this level to solidify the confirmation of the movement. Failure to lock above this level will follow with a rejection into support.

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 also have a retracement range at 2047 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
2081

EMA5 CROSS AND LOCK ABOVE 2081 WILL OPEN THE FOLLOWING BULLISH TARGET
2094
2108

BEARISH TARGETS -
2058
2047

EMA5 CROSS AND LOCK BELOW 2047 WILL OPEN THE SWING RANGE

SWING RANGE
2017

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
XAUUSD TOP AUTHOR