GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAP

Hey Everyone,

Please see update on our monthly chart idea for our long term/range analysis.

Our Monthly chart idea is now finally complete from candle body close above 2702 leaving 2825 axis target open, which is now hit and complete.

Please review all the historical updates below to see how we have been tracking this chart over several months. We will share a new long range monthly chart idea from next month.

LAST UPDATES OVER THE PREVIOUS MONTHS

Previous month in December we stated that the month started with a detachment to ema5 below for a correction, which was highlighted with a small mini circle on the chart for visual purpose.

- This detachment to ema5 was completed perfectly.

We also stated last month in December that the area above 2589 is a strong level of support with ema5 providing dynamic support now for a bounce.

- This also played out perfectly with ema5 providing dynamic support and above our 2589 support level for the push up, perfectly hitting our axis target 2702.

We then stated that we had two days for month end and will need a body close above 2702 for confirmation for a further continuation or a body close below 2589 to confirm the channel top test below. We also stated that if price closes this month in this range without the body closes, then we are likely to see play between this range for another month with not much detachment on the next monthly candle to ema5, which means the likely dynamic support should be provided by ema5 from the beginning of the month.

- This played out perfectly in January as the the ema5 provided the dynamic support right from the start, which followed with a nice push up. We now also have a candle body close above 2702 leaving a gap to 2825 Axis our long term target that we have been tracking over the months.

We will continue to use all support structures, across all our multi time frame chart ideas to buy dips also keeping in mind our long term gaps 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