GoldViewFX - MARKET UPDATE & ROADMAP
Hello Followers,
Hope everyone had a great weekend!!
Lets start with the 1H chart analysis; We had a volatile week last week with war tension pushing Gold price up. Remember we already traded this movement technically and confidently for the last 2 months and not due to the news. Those trying to buy the news will find themselves stuck, as you already saw the push up followed with a deep correction back to benchmark.
Personally, while I will remain vigilant to what is going on around the world, my trading is based on pure technicals, enforced with strong money management. News will always have two sides, one side showing movement up and another will show movement down. Technicals allow you to jump onto that trend and measure that movement to trade it in levels. Right now while war news may show movement up, on the flip side we have FEDs announcement in MARCH that will potentially put negative pressure on gold. So there's good argument for both cases.
So how do I trade this?
I have already identified we are still in an uptrend with a Bullish structure. This supports our movement up technically and taking buys from support Goldturns and EMA5 breaks to next Goldturns, gives us confidence in taking buys. We are also expecting another 1974 challenge!
If we see a break below 1877 swing range, we can SELL to target 1855 and then 1824 and below, confirmed with EMA5, before we consider taking buys again.
As you can see we are expecting swings in both direction. We will be trading this Goldturn to Goldturn with buys above 1877. Sells below 1877 and then Buys again from deeper corrections. As always, I will be breaking this down, target by target daily and sharing during the week, so please stay tuned and follow the updates.
DAILY CHART - STRUCTURE AND SWING RANGE
Please don't forget to like, comment and follow, we have been loving the likes and comments and in return we are bringing more to the table.
GoldViewFX
XAUUSD TOP AUTHOR
Hope everyone had a great weekend!!
Lets start with the 1H chart analysis; We had a volatile week last week with war tension pushing Gold price up. Remember we already traded this movement technically and confidently for the last 2 months and not due to the news. Those trying to buy the news will find themselves stuck, as you already saw the push up followed with a deep correction back to benchmark.
Personally, while I will remain vigilant to what is going on around the world, my trading is based on pure technicals, enforced with strong money management. News will always have two sides, one side showing movement up and another will show movement down. Technicals allow you to jump onto that trend and measure that movement to trade it in levels. Right now while war news may show movement up, on the flip side we have FEDs announcement in MARCH that will potentially put negative pressure on gold. So there's good argument for both cases.
So how do I trade this?
I have already identified we are still in an uptrend with a Bullish structure. This supports our movement up technically and taking buys from support Goldturns and EMA5 breaks to next Goldturns, gives us confidence in taking buys. We are also expecting another 1974 challenge!
If we see a break below 1877 swing range, we can SELL to target 1855 and then 1824 and below, confirmed with EMA5, before we consider taking buys again.
As you can see we are expecting swings in both direction. We will be trading this Goldturn to Goldturn with buys above 1877. Sells below 1877 and then Buys again from deeper corrections. As always, I will be breaking this down, target by target daily and sharing during the week, so please stay tuned and follow the updates.
DAILY CHART - STRUCTURE AND SWING RANGE
Please don't forget to like, comment and follow, we have been loving the likes and comments and in return we are bringing more to the table.
GoldViewFX
XAUUSD TOP AUTHOR
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