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GOLD 1H CHART ROUTE MAPHey Everyone, Please see update on our 1H chart idea playing out level to level and providing the bounce and swings inline with our plans to buy dips. We started the week with price playing between two weighted levels 2351 resistance and 2333 support. We got the support test at 2333, which followed with ema5 lock below 2333 opening the retracement range and a further cross and lock below 2316 also opened the swing range. The first level of the swing range was hit with just short of the second level. However, the swing range itself has provided swings twice to buy dips from this range. As long as the swing range holds above 2302, we are like to see 2316 retest and then 2333. Failure to lock above this range and we will see the full test of the swing range and a further lock below the swing range will open the range below. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2351 EMA5 CROSS AND LOCK ABOVE 2351 WILL OPEN THE FOLLOWING BULLISH TARGETS 2368 BEARISH TARGETS 2333 - DONE EMA5 CROSS AND LOCK BELOW 2333 WILL OPEN THE RETRACEMENT RANGE 2316 - DONE EMA5 CROSS AND LOCK BELOW 2316 WILL OPEN THE SWING RANGE SWING RANGE 2302 - DONE 2278 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
11
AUDUSD: AUDUSD technical analysis todayMost Asian currencies weakened on Friday, while the dollar steadied in anticipation of key inflation data expected to influence the Federal Reserve's stance on cuts. interest rates. While the dollar's decline overnight - after weaker-than-expected US gross domestic product data - brought some relief to Asian currencies, this was largely offset offset by continued bets on higher US interest rates for longer. The dollar also eased some of the losses in Asian trade.
Long
by Chart_MasterPro
1
USDJPY: The Japanese yen rose suddenly amid intervention speculaThe Japanese yen experienced a notable rise on Monday, which analysts interpreted as a potential sign of intervention by Japanese authorities in the foreign exchange market. The move comes after a significant depreciation of the yen, which has fallen nearly 11% against the dollar this year and 35% over the past three decades, recently hitting a 34-year low. Monday's operation follows months of warnings from Japan that it may intervene in foreign exchange markets. The Japanese government's most recent intervention took place in September and October 2022, with an estimated 9.2 trillion yen ($60.78 billion) spent to support the currency. This is not the first case of intervention; During the 1998 Asian financial crisis, the yen fell nearly 25% in 14 months, prompting the United States to join Japan in a successful intervention effort.
Long
by Chart_MasterPro
XAUUSD: The USD fell slightly as the market anticipated the Fed The US greenback skilled a small decline today, with buying and selling volumes falling because of a vacation in Japan. The yen, euro and pound continue to be close to their lowest tiers from ultimate week`s chaotic session. The Japanese yen confirmed mild profits in opposition to the greenback, buying and selling at 158.05, up almost 0.2%. This modest circulate follows a bigger circulate on Friday, which noticed the yen circulate via a variety of almost 3.five yen, from 158.445 to 154.97. The volatility follows the Bank of Japan's selection to keep its coverage settings and supplied constrained perception into any capability modifications to its bond-shopping for program , that could aid the yen's value. Investors at the moment are turning their interest to the United States Federal Reserve's (Fed) coverage evaluation scheduled to take area from April 30 to May 1, with expectancies of a postpone in hobby price cuts later. Persistent US inflation and careful remarks from Federal Reserve officials, such as Chairman Jerome Powell. Market members are searching ahead to the Federal Open Market Committee (FOMC) meeting, predicting extra balanced buying and selling of the greenback-yen pair than in current weeks, prompted via way of means of expectancies of a a extra energetic Fed.
OANDA:XAUUSDShort
by Chart_MasterPro
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, A piptastic day on the charts today kicking off the new month with blues. Yesterday we got the lock below 2327 opening the retracement range, which was hit perfectly and gave the 30 to 50 pip bounce inline with our plans to buy dips also covering any premature entries. We then stated that we will now wait for this area to support and head for the range above or a further cross and lock below the retracement range will open the swing range. - This played out perfectly, as ema5 failed to cross below the retracement range; although price broke below the retracement range, ema5 did not, confirming the rejection for the perfect bounce into 2327 with a clean catch of over 100 pips. We will now look for a break above 2327 to confirm the range above or failure to lock above will follow with a retest back to the retracement 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. 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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2354 EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGETS 2386 EMA5 CROSS AND LOCK ABOVE 2386 WILL OPEN THE FOLLOWING BULLISH TARGET 2410 2429 BEARISH TARGETS 2327 - DONE EMA5 CROSS AND LOCK BELOW 2327 WILL OPEN THE RETRACEMENT RANGE 2313 - DONE 2294 - DONE EMA5 CROSS AND LOCK BELOW 2294 WILL OPEN THE SWING RANGE SWING RANGE 2274 - 2245 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! Mr Gold GoldViewFX
FXOPEN:XAUUSD
by Goldviewfx
19
Bitcoin (BTC) Price Analysis: Preparing for the Bearish AbyssIn this technical forecast, we delve into the darker recesses of Bitcoin's potential price journey. We observe a concerning configuration on the BTCUSD chart where the currency is currently grappling with critical support levels. Current Dynamics: The price has recently retracted from a peak, teasing the possibility of a significant downtrend. A descending channel formation can be seen, indicating a tightening bearish grip on the market momentum. Worst Case Trajectory: Should the price break below the sturdy support zone, indicated by the green rectangle, we may see an accelerated drop. The price could tumble toward the lower boundary of the channel, a line that has historically acted as a gravitational pull during bearish trends. Key Levels to Watch: Immediate support resides within the green rectangle zone. If this fails, the descent could be sharp and unforgiving. Further support is hypothesized by the extended yellow trend lines, outlining a worst case range that could spell distress for bulls. Projected Pathways: The worst case scenario envisions a stark descent, followed by a period of consolidation below the current support. A relief rally might attempt to reclaim lost ground, but the overarching trajectory remains bleak in this hypothesis. Conclusion: While we must tread with caution, preparing for a bearish eventuality is prudent. Investors and traders should brace for volatility and consider the historical behavior of the market during similar patterns. Vigilance is key as we watch for potential support breaches that could confirm this grim forecast.
BYBIT:BTCUSD.PShort
by Oak_the_trader
2
Gold Dives Amid A Broad Sell-Off In Commodity MarketsGold is under strong pressure as traders focus on rising Treasury yields and prepare for hawkish comments from Fed Chair Jerome Powell. The Fed will announce its Interest Rate Decision tomorrow. In case gold settles below the support at $2295 – $2305, it will head towards the next support level at $2190 – $2200. Gold breaks down from a bear flag on Tuesday with a drop below Monday’s low of 2,320. The decline may see a repeat of the drop that followed the 2,431-record high. It was followed by a decline to a low of 2,291, essentially reaching the 50% retracement. A measured move of the second decline, from the top of the flag, matches the first decline (purple arrows) at 2,212. This is the same as a falling ABCD where the pattern is identifying symmetry between swings. The 2,212-price level is within a price range from 2,218 (50-Day MA) to 2,208 (50% retracement). Since the 20-Day MA has been busted, the 50-Day line becomes an obvious eventual lower target.
OANDA:XAUUSDLong
by NicoTradingMaster
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, Once again our chart is playing out level to level. Yesterday we got our bearish target hit first at 2327 with no lock below and therefore confirmed the rejection and gave the perfect bounce inline with our plans to buy dips for a nice clean catch. Today we got the lock below 2327 opening the retracement range, which was hit perfectly and gave the 30 to 50 pip bounce inline with our plans to buy dips also covering any premature entries. We will now wait for this area to support and head for the range above or a further cross and lock below the retracement range will open the swing 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. 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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2354 EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGETS 2386 EMA5 CROSS AND LOCK ABOVE 2386 WILL OPEN THE FOLLOWING BULLISH TARGET 2410 2429 BEARISH TARGETS 2327 - DONE EMA5 CROSS AND LOCK BELOW 2327 WILL OPEN THE RETRACEMENT RANGE 2313 - DONE 2294 - DONE EMA5 CROSS AND LOCK BELOW 2294 WILL OPEN THE SWING RANGE SWING RANGE 2274 - 2245 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! Mr Gold GoldViewFX
FXOPEN:XAUUSD
by Goldviewfx
28
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, Great start to the week with our chart idea playing once again in true level to level fashion!! Price was sitting between two weighted levels, 2354 resistance and 2327 support and we were looking for either weighted level to break and lock to confirm the next range. We got our bearish target hit first at 2327. No lock below confirmed the rejection and gave the perfect bounce inline with our plans to buy dips for a nice clean catch. Our Bullish target at 2354 remains open and, as stated yesterday; we are looking for either the 2354 Goldturn resistance or 2327 Goldturn support to cross and lock to open the next range. We also need to keep in mind our 1H chart idea has broken support and left the range below open, which we need to keep in mind during the week when planning our buys from dips. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2354 EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGETS 2386 EMA5 CROSS AND LOCK ABOVE 2386 WILL OPEN THE FOLLOWING BULLISH TARGET 2410 2429 BEARISH TARGETS 2327 - DONE EMA5 CROSS AND LOCK BELOW 2327 WILL OPEN THE RETRACEMENT RANGE 2313 2294 EMA5 CROSS AND LOCK BELOW 2294 WILL OPEN THE SWING RANGE SWING RANGE 2274 - 2245 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! Mr Gold GoldViewFX
FXOPEN:XAUUSD
by Goldviewfx
14
GOLD 1H CHART ROUTE MAP FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2351 resistance and 2333 support. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2351 to further open the range above or a rejection will follow to find support at 2333. A cross and lock below 2333 will open the retracement range and a further cross and lock below 2316 will open the swing 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. 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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2351 EMA5 CROSS AND LOCK ABOVE 2351 WILL OPEN THE FOLLOWING BULLISH TARGETS 2368 EMA5 CROSS AND LOCK ABOVE 2368 WILL OPEN THE FOLLOWING BULLISH TARGET 2388 POTENTIALLY 2408 BEARISH TARGETS 2333 EMA5 CROSS AND LOCK BELOW 2333 WILL OPEN THE RETRACEMENT RANGE 2316 EMA5 CROSS AND LOCK BELOW 2316 WILL OPEN THE SWING RANGE SWING RANGE 2302 - 2278 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
5
GOLD 4H CHART ROUTE MAP FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2354 resistance and 2327 support. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2354 to further open the range above or a rejection will follow to find support at 2327. A cross and lock below 2327 will open the retracement range and a further cross and lock below 2294 will open the swing 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. 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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2354 EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGETS 2386 EMA5 CROSS AND LOCK ABOVE 2386 WILL OPEN THE FOLLOWING BULLISH TARGET 2410 2429 BEARISH TARGETS 2327 EMA5 CROSS AND LOCK BELOW 2327 WILL OPEN THE RETRACEMENT RANGE 2313 2294 EMA5 CROSS AND LOCK BELOW 2294 WILL OPEN THE SWING RANGE SWING RANGE 2274 - 2245 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! Mr Gold GoldViewFX
FXOPEN:XAUUSD
by Goldviewfx
GOLD DAILY CHART MID/LONG TERM PROJECTIONHey Everyone, Please see our daily chart idea that we have been tracking and trading successfully since completing our last daily chart idea. Last week we were seeing price test the updated Goldturn ascending channel top and stated that we were likely to witness either a break above the channel or some resistance and some correctional retracement for a level to level bounce back up to continue to extend the channel range to retest 2418 and 2504 long term. As stated we saw the retracement take place and the price test support at at 2325 Goldturn inline with the channel half line. Ema5 5 remained above 2325 confirming the bounce, which we were able to track and trade using our smaller timeframe. A break below the 2325 Goldturn support level will complete the full channel half line test and the potential for a break and lock below the half line to open the levels below until we track to the bottom of the channel or rejection back to re-test the top. We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
GOLD WEEKLY CHART MID/LONG TERM PROJECTIONHey Everyone, This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected. So far we were able to track the entre move up and down twice with level to level tracking and our long term swing range zones have also provided the bounces each time. LAST UPDATE Price has maintained above the channel with our final long range target at 2438 still remaining. The extended levels 2475 and 2511 will only activated once we see a close above 2438 . We would also like to see the price retest support above the channel top also inline with the ema5 detachment highlighted with the circle for a correction. Should price break back into the channel while correction then we will look for price to respect the levels int he channel once again for the bounces inline with our plans to buy dip level to level using our small time frames. CURRENT UPDATE This played out perfectly with the test at support above the channel top and detachment to ema5 that we highlighted followed with the perfect bounce allowing us to buy multiple dis using our smaller timeframes throughout the week. We will continue with this plan until we see a further push up into the levels above or we see price break back into the channel for a further correction for price to respect the levels in the channel once again for the bounces inline with our plans to buy dip level to level using our smaller times. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHO
OANDA:XAUUSD
by Goldviewfx
4
World gold prices are high and seem quite stable 2300World gold spot rate is round 2,318.eight USD/ounce, down 1.2 USD/ounce in comparison to overnight. Gold futures rate in June 2024 at the Comex New York ground is at 2,330.2 USD/ounce. At 8:00 p.m. on April 24 (Vietnam time), today's spot gold price on the world market is at 2,320 USD/ounce. Gold for delivery in June 2024 on the Comex New York floor is at 2,334 USD/ounce. The world gold price on the night of April 24 is about 12.5% ​​higher (257 USD/ounce) compared to the end of 2023. World gold price converted by USD bank price is at seventy-two million VND/tael, including Taxes and fees are about 12.5 million VND/tael lower than the domestic gold price at the end of the afternoon session on April 24. The world gold price hangs high and appears to be quite stable above the threshold of 2.3 hundred USD. World gold prices are kept at a high level because investors are still concerned about the situation in the Middle East as well as in Ukraine. Previously, pressure from the people to create investment pressure hit the possibility that the Israeli government would have to be careful in deciding how to reduce tensions in the Middle East. Both sides also lowered their voices a bit. However, on April 24, Iranian President Ebrahim Raisi warned that if Israel attacked Iran again, it would wipe out Israel. Specifically, the President of Iran said when "it is unknown whether this country will stay or not".
OANDA:XAUUSDLong
by MrTrongVo
GBPJPY: Yen struggles as BOJ faces yield dilemmaThe Japanese yen keeps to stand vast demanding situations because it hit a 34-yr low towards the greenback, with little expectation that the Bank of Japan (BOJ) will improve hobby costs at its meeting. upcoming coverage on Friday. The significant bank, which has no forex mandate, is beneathneath growing strain because the weakening yen influences inflation via way of means of growing the fee of imports. Despite guidelines from BOJ Governor Kazuo Ueda approximately the opportunity of destiny hobby fee hikes, forex markets have in large part unnoticed those signals. In March, the BOJ raised hobby costs for the primary time in 17 years, however the flow did little to reduce the yen`s decline. Traders continue to be targeted at the more potent greenback and the vast yield differential among the USA and Japan. The yen is presently extra stricken by US trade costs and yield differentials. Swami additionally talked about that whilst a complete normalization of BOJ coverage may want to assist enhance the yen, the important thing thing may be the Federal Reserve's actions. Market expectancies for the Federal Reserve have changed, with fewer hobby fee cuts than anticipated this yr because of symptoms and symptoms of chronic US inflation and a lackluster financial recovery. This extrade in outlook indicates that US short-time period hobby costs may want to continue to be above 5.25% for an prolonged period, whilst Japanese short-time period hobby costs are at 0.1%. Even with the 22 foundation factor boom priced in for Japan this yr, it hasn't executed a great deal to shut the gap.
Short
by Chart_MasterPro
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, Please see our 4H chart update from Sunday with just our swing range updated. We had our Bullish target hit at 2389 start of the week followed with no ema5 lock above, confirming the rejection into the bearish target. Bearish target at 2354 was hit followed with a cross and lock below this level opening the retracement range at 2326, which was hit perfectly. A further cross and lock below the retracement range opened the levels below hitting our 2294 Goldturn level for the perfect bounce. This was supported at our first level into the updated swing range and now need to keep in mind the full swing range is still open. We will now need a body close above 2326 to open retest to 2354. Ema5 lock will further confirm this. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2389 - DONE EMA5 CROSS AND LOCK ABOVE 2389 WILL OPEN THE FOLLOWING BULLISH TARGETS 2410 2429 BEARISH TARGETS 2354 - DONE EMA5 CROSS AND LOCK BELOW 2354 WILL OPEN THE RETRACEMENT RANGE 2326 - DONE EMA5 CROSS AND LOCK BELOW 2326 WILL OPEN THE SWING RANGE SWING RANGE 2294 - 2274 2294 - DONE 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! Mr Gold GoldViewFX
FXOPEN:XAUUSD
by Goldviewfx
9
EURJPY: Asian foreign exchange increased thanks to the decline oYen falls as USDJPY heads in the direction of a hundred and fifty five However, the Japanese Yen did little to enhance in opposition to the weaker dollar, with USDJPY buying and selling close to a 34-12 months excessive and close to the a hundred and fifty five level. The yen weakened whilst a sequence of Japanese officers warned of presidency intervention to help the currency. Traders see USDJPY at a hundred and fifty five as in all likelihood to draw authorities intervention. Yen weakens beforehand of this Friday`s Bank of Japan Meeting, wherein the important financial institution is predicted to go away hobby prices unchanged after a anciental hike in March. However, the outlook for inflation and boom stays uncertain. The financial system could be carefully watched.
Long
by Chart_MasterPro
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Another great day on the charts today with our Goldturns respecting level to level. Yesterday we stated that each of the Goldturns within the open swing range gave bounces inline with our plans to buy dips and now heading to 2333 for a test of resistance previously support. - This played out perfectly with 2333 hit today. 2333 is now acting as resistance and will need a cross and lock to open the range above otherwise a rejection here will see further tests within the swing 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. 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 in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2393 2408 EMA5 CROSS AND LOCK ABOVE 2408 WILL OPEN THE FOLLOWING BULLISH TARGETS 2422 2440 AND POTENTIALLY 2454 BEARISH TARGETS 2371 - DONE EMA5 CROSS AND LOCK BELOW 2371 WILL OPEN THE RETRACEMENT RANGE 2355 - DONE 2333 - DONE EMA5 CROSS AND LOCK BELOW 2333 WILL OPEN THE SWING RANGE & LEVELS WITHIN 2312 - DONE 2289 - DONE SWING RANGE 2278- 2258 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
9
XAUUSD CHART ANALYSIS Gold is trading at 2325, with a notable resistance level observed at 2335. Should gold breach this resistance, traders may consider pursuing the following targets: 2343 to 2355. Alternatively, should a sell pattern manifest, indicating a potential downturn, traders may anticipate the following support levels: The initial support rests at 2310, followed by potential targets at 2300 to 2290. This analysis suggests potential trading opportunities based on current market dynamics and key price levels. Traders are advised to monitor these levels closely and adjust their strategies accordingly.(DATED 24/04/2024 )
OANDA:XAUUSD
by Mr_Gushy
1
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Yesterday we had EMA5 cross and lock below 2371 opening the retracement range 2355 and 2333. - Both levels were hit. Today we had the lock below 2333 opening the swing range levels below, which we said will allow us to buy dips on bounces on the Goldturns. - Each of the Goldturns withing the swing range gave nice bounces inline with our plans to buy dips. Once again our precision entries allowed us to bank pips from the bounces now heading to 2333 for a test of resistance previously support. We need to also keep in mind the full swing range open and the range is now extended when planning to buy dips against the short term trend. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2393 2408 EMA5 CROSS AND LOCK ABOVE 2408 WILL OPEN THE FOLLOWING BULLISH TARGETS 2422 2440 AND POTENTIALLY 2454 BEARISH TARGETS 2371 - DONE EMA5 CROSS AND LOCK BELOW 2371 WILL OPEN THE RETRACEMENT RANGE 2355 - DONE 2333 - DONE EMA5 CROSS AND LOCK BELOW 2333 WILL OPEN THE SWING RANGE & LEVELS WITHIN 2312 - DONE 2289 - DONE SWING RANGE 2278- 2258 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
17