GoldViewFX - WEEKLY CHART UPDATE
Hey Everyone,
This is the weekly chart we have been tracking and following for our long-term targets.
Just like last week another weekly candle body close above 1787. We did see the push down once again like last week. However, as you can see, this retracement once again went down for the detachment to EMA5 and found support like last week. Soon as price attached to the EMA5, we saw price continue to push back up and break 1787 and close above it.
We have now seen 4 weekly candle body close above 1787 opening up a long range gap to 1858 but not confirmed. However, please keep in mind a similar situation highlighted on the chart previously. We can still see a rejection on this zone for a bigger drop into the lower range, as seen on the last historical challenge. We need to see EMA5 cross and lock above 1787 and not just candle body close to confirm the break and gap target to 1858. This is how we confirm whether it's a breakout or fake out.
EMA5 has slowly creeped up and is now touching 1787 and at crucial challenge point of this level. We will either see the big retracement down or the cross and lock to open and confirm the 1858 target
We will use our smaller timeframe setups to navigate this range level to level.
As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
This is the weekly chart we have been tracking and following for our long-term targets.
Just like last week another weekly candle body close above 1787. We did see the push down once again like last week. However, as you can see, this retracement once again went down for the detachment to EMA5 and found support like last week. Soon as price attached to the EMA5, we saw price continue to push back up and break 1787 and close above it.
We have now seen 4 weekly candle body close above 1787 opening up a long range gap to 1858 but not confirmed. However, please keep in mind a similar situation highlighted on the chart previously. We can still see a rejection on this zone for a bigger drop into the lower range, as seen on the last historical challenge. We need to see EMA5 cross and lock above 1787 and not just candle body close to confirm the break and gap target to 1858. This is how we confirm whether it's a breakout or fake out.
EMA5 has slowly creeped up and is now touching 1787 and at crucial challenge point of this level. We will either see the big retracement down or the cross and lock to open and confirm the 1858 target
We will use our smaller timeframe setups to navigate this range level to level.
As always, we will keep you all updated with regular updates throughout the week and how we manage the 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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