GoldViewFX - Market UPDATE
Morning Everyone,
As you can see this chart has already started to play out. We got our 1661 and 1668 target done on market open and then EMA5 failed to cross and lock above 1661, which also gave us the heads up for the retracement that we also shared yesterday.
The levels are still valid, and we can continue to track the movement using EMA5 cross and lock.
Volatility Warning
Although the economic calendar for this week is marked point to point with red flags, with the exception of Wednesday, please keep a particular eye out for Friday's Core PCE. Remember that this is the US Fed's preferred inflation gauge and will inform their rate hike decision in November AND what, if any, news they decide to release at that meeting for the December hike.
Keep your lots small and be ruthless with your discipline and take 30 pips in and out or trail, always protecting your profit. Do not leave any positions open for a longer-range target since the market may start pricing in the Core PCE number beforehand and if the sentiment is confirmed with the release on the day, you'll be stuck in a new range leaving your open position behind unless you've chopped it. Trade safely this week. Here at GVFX, our strategy keeps you safe AND profitable and we intend to have another booming week.
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
As you can see this chart has already started to play out. We got our 1661 and 1668 target done on market open and then EMA5 failed to cross and lock above 1661, which also gave us the heads up for the retracement that we also shared yesterday.
The levels are still valid, and we can continue to track the movement using EMA5 cross and lock.
Volatility Warning
Although the economic calendar for this week is marked point to point with red flags, with the exception of Wednesday, please keep a particular eye out for Friday's Core PCE. Remember that this is the US Fed's preferred inflation gauge and will inform their rate hike decision in November AND what, if any, news they decide to release at that meeting for the December hike.
Keep your lots small and be ruthless with your discipline and take 30 pips in and out or trail, always protecting your profit. Do not leave any positions open for a longer-range target since the market may start pricing in the Core PCE number beforehand and if the sentiment is confirmed with the release on the day, you'll be stuck in a new range leaving your open position behind unless you've chopped it. Trade safely this week. Here at GVFX, our strategy keeps you safe AND profitable and we intend to have another booming week.
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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