Hey everyone,
Please see our Daily chart route map and trade idea with the updated axis levels above and a new Goldturn channel.
We currently have a long range gap at 5030 axis. A break above this level will open 5198 AXIS level.
If instead we see a rejection at this level, this would open 4794 inline with the channel half line where we expect a reaction. A further close below 4794 would open 4586, which is a stronger level of structure support level aligning with the channel floor.
This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.
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 from rejections, 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
Please see our Daily chart route map and trade idea with the updated axis levels above and a new Goldturn channel.
We currently have a long range gap at 5030 axis. A break above this level will open 5198 AXIS level.
If instead we see a rejection at this level, this would open 4794 inline with the channel half line where we expect a reaction. A further close below 4794 would open 4586, which is a stronger level of structure support level aligning with the channel floor.
This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.
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 from rejections, 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
Trade active
After completing our 1H and 4H chart analysis, we have also finished our Daily chart update.
As outlined, 5030 was reached first with a full body close confirmation, followed by 5198, which was also confirmed with a body close, exactly as planned.
We are now observing a breakout above the channel, followed by rejection and a drop back on the top of the channel. From here, we will use the channel top to assess whether a support range can be established at this level.
Our new multi-timeframe chart ideas will outline the updated plan and clearly show how we intend to trade the next phase.
Stay tuned for the updated ideas.
Mr Gold
Trade closed: target reached
We finish off the week with our Daily chart completed as per yesterdays update.
We are now seeing the aggressive correction from the sell off and price is back inside the channel. Depending on where the daily candle closes, will determine if the channel half line opens for a test and reaction. This gap was highlighted at the beginning of this chart idea and remains a good area of correctional support.
We will now come back Sunday with our updated multi time frame route maps and trading plans for the week ahead.
Mr Gold
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🪙 JOIN OUR FREE TELEGRAM GROUP 🪙 t.me/GoldView_FX
🪙 JOIN OUR DISCORD FOR BACKUP 🪙
discord.com/invite/9ZrEHGuaE2
We never DM first
🏆MESSAGE US FOR VIP SIGNALS🏆
t.me/GoldviewFX
or
email goldviewfx@gmail com
🪙 JOIN OUR DISCORD FOR BACKUP 🪙
discord.com/invite/9ZrEHGuaE2
We never DM first
🏆MESSAGE US FOR VIP SIGNALS🏆
t.me/GoldviewFX
or
email goldviewfx@gmail com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.