WEEKLY CHART MID/LONG TERM ROUTE MAP

anteontem

Hey Everyone,

This is an update on the weekly chart idea we have been tracking for over a month now.

This chart allowed us to project the long term corrections and direction. We were able to track our bullish targets until no ema5 lock to confirm rejection into the retracement range below for the correction.

We have been suggesting over the last few weeks that we will be looking for the channel top and the retracement range to provide the support for a reaction.

We also stated that we have a body close below the retracement range opening the swing range but will need ema5 cross and lock to further confirm this. No lock below confirmed the rejection. The new weekly candle this week also had the ema5 detachment to the top, which followed with the correction above to re-attach and now heading towards the 2729 axis target once again.

Overall the channel top provided the support like we analysed. Although we saw candle body closes below the channel there was no ema5 break into the channel, which allowed us to identify the fake-out and confirm the support. This is the beauty of our Gold channels, which we draw in our unique way, using averages rather than the price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.

We will track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gaps for the future.

We will continue to track the movement down and trade the bounces up, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gaps above for the future..

Thank you all for your likes, comments and follows, we really appreciate it!

Mr Gold
GoldViewFX