GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAP
Hey Everyone,
This is the monthly chart idea for our long term/range analysis, which we shared last update in November. Previously after completing the bull targets, we were left with a big detachment to ema5. This was hit and completed for the correction, as highlighted by the circle on the chart, which also gave the bounce, allowing us to buy dips inline with our plans.
This month also started with a detachment to ema5 below for a correction, which was nearly completed and can be pulled up to complete, also highlighted with a small mini circle on the charts for visual purpose.
This area above 2689 is a strong level of support with ema5 providing dynamic support now for a bounce. Each of the lower Goldturn levels below are likely to give re-actional bounces just like our shorter time frame ideas.
However, we will keep in mind the channel top that may require a support test. We will continue use all support structures, across all our multi time frame chart ideas to buy dips also keeping in mind our long term gap above. Short term we may look bearish but looking at the monthly chart allows us to see the bigger picture and the overall long term Bullish trend.
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!
Mr Gold
GoldViewFX
This is the monthly chart idea for our long term/range analysis, which we shared last update in November. Previously after completing the bull targets, we were left with a big detachment to ema5. This was hit and completed for the correction, as highlighted by the circle on the chart, which also gave the bounce, allowing us to buy dips inline with our plans.
This month also started with a detachment to ema5 below for a correction, which was nearly completed and can be pulled up to complete, also highlighted with a small mini circle on the charts for visual purpose.
This area above 2689 is a strong level of support with ema5 providing dynamic support now for a bounce. Each of the lower Goldturn levels below are likely to give re-actional bounces just like our shorter time frame ideas.
However, we will keep in mind the channel top that may require a support test. We will continue use all support structures, across all our multi time frame chart ideas to buy dips also keeping in mind our long term gap above. Short term we may look bearish but looking at the monthly chart allows us to see the bigger picture and the overall long term Bullish trend.
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!
Mr Gold
GoldViewFX
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