GoldViewFX - 4H CHART MARKET UPDATE
Hey Everyone,
As you can see our 4H chart idea is playing out as projected. Our open Bullish target to 2005 was HIT perfectly and then followed with a rejection on the resistance structure and into the retracement zone identified completing all bearish targets. This retracement zone is also a support structure so we would now like to see how EMA5 reacts to this level.
If we see a EMA5 cross and lock below 1948 then the swing range will be open. Failure to cross and lock below 1948 and we will see another push up.
The 1H chart idea has already locked below the retracement zone opening the 1H swing range. However, please note the opening of the swing range does not mean a full test but more so a likely open range that we must now incorporate when managing our risk exposure, as we continue with our plans to buy dips from strategic support levels to stay in line with our overall long term trend.
BULLISH TARGETS
2005 - DONE
EMA5 CROSS AND LOCK ABOVE 2005 WILL OPEN
2024
2035
2060
BEARISH TARGETS
1987 - DONE
1968 - DONE
1948 - DONE
EMA5 CROSS AND LOCK BELOW 1948 WILL OPEN 1924, 1906, AND 1882
SWING RANGE
1882
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!
GoldViewFX
XAUUSD TOP AUTHOR
As you can see our 4H chart idea is playing out as projected. Our open Bullish target to 2005 was HIT perfectly and then followed with a rejection on the resistance structure and into the retracement zone identified completing all bearish targets. This retracement zone is also a support structure so we would now like to see how EMA5 reacts to this level.
If we see a EMA5 cross and lock below 1948 then the swing range will be open. Failure to cross and lock below 1948 and we will see another push up.
The 1H chart idea has already locked below the retracement zone opening the 1H swing range. However, please note the opening of the swing range does not mean a full test but more so a likely open range that we must now incorporate when managing our risk exposure, as we continue with our plans to buy dips from strategic support levels to stay in line with our overall long term trend.
BULLISH TARGETS
2005 - DONE
EMA5 CROSS AND LOCK ABOVE 2005 WILL OPEN
2024
2035
2060
BEARISH TARGETS
1987 - DONE
1968 - DONE
1948 - DONE
EMA5 CROSS AND LOCK BELOW 1948 WILL OPEN 1924, 1906, AND 1882
SWING RANGE
1882
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!
GoldViewFX
XAUUSD TOP AUTHOR
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