GoldViewFX - Market UPDATE
Hey Everyone,
Once again we waited patiently for the setup and as mentioned already this week, we were either looking for a EMA5 lock above 1804 weighted Goldturn to open the upper range or a EMA5 lock below 1779 weighted Goldturn to open the swing range.
EMA5 has now broken 1779 opening the swing range. We waited for confirmation on our VIP levels and took a nice sell to 1773. Another clean call with clean profit!!!!
Although we remain Bullish from support, we must now take into consideration the full swing range is open and therefore we need to manage our risk accordingly with the range.
We expecting a volatile day tomorrow from US session all the way to FOMC 7PM UK time and therefore we will wait for signal or setup confirmation before considering positions. If we see a move down, we will wait for momentum to exhaust before talking the ride up. However we may see movement UP during the earlier sessions so be careful not to jump in too early to ride the movement up and then get stuck on the swing down. We may see bi-directional movement tomorrow so timing is crucial otherwise you may get stuck on a buy when price is moving down or stuck in a sell when price is moving up, which is the typical situation in these market conditions.
As always we will keep you all updated with any changes to our plans throughout the week. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Once again we waited patiently for the setup and as mentioned already this week, we were either looking for a EMA5 lock above 1804 weighted Goldturn to open the upper range or a EMA5 lock below 1779 weighted Goldturn to open the swing range.
EMA5 has now broken 1779 opening the swing range. We waited for confirmation on our VIP levels and took a nice sell to 1773. Another clean call with clean profit!!!!
Although we remain Bullish from support, we must now take into consideration the full swing range is open and therefore we need to manage our risk accordingly with the range.
We expecting a volatile day tomorrow from US session all the way to FOMC 7PM UK time and therefore we will wait for signal or setup confirmation before considering positions. If we see a move down, we will wait for momentum to exhaust before talking the ride up. However we may see movement UP during the earlier sessions so be careful not to jump in too early to ride the movement up and then get stuck on the swing down. We may see bi-directional movement tomorrow so timing is crucial otherwise you may get stuck on a buy when price is moving down or stuck in a sell when price is moving up, which is the typical situation in these market conditions.
As always we will keep you all updated with any changes to our plans throughout the week. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
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