GoldViewFX - 4H CHART UPDATED STRUCTURE
Hey Everyone,
Please see our 4H chart, which we have been tracking and trading since last week. This is still very much in play so not much needed updating on the levels.
This chart is a clear example of why we draw channels using our Goldturns and not the traditional way, which everyone else uses to draw channels. This is very much a GoldViewFX standard and helps us eliminate the noise and identify the breakouts and fake outs. As you can see price has broken out of the channel but EMA5 is flirting with the channel top respecting the Goldturn channel so a retracement can easily follow back to the channel floor, and this will be classed as a fake out. However, a cross and lock above the channel top 1664 will open the upper levels.
Bullish Targets
1664
EMA5 CROSS AND LOCK ABOVE 1664 WILL OPEN 1679, 1693 and 1710
Bearish Targets
1640
1622
EMA5 CROSS AND LOCK BELOW 1622 WILL OPEN 1586
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
Please see our 4H chart, which we have been tracking and trading since last week. This is still very much in play so not much needed updating on the levels.
This chart is a clear example of why we draw channels using our Goldturns and not the traditional way, which everyone else uses to draw channels. This is very much a GoldViewFX standard and helps us eliminate the noise and identify the breakouts and fake outs. As you can see price has broken out of the channel but EMA5 is flirting with the channel top respecting the Goldturn channel so a retracement can easily follow back to the channel floor, and this will be classed as a fake out. However, a cross and lock above the channel top 1664 will open the upper levels.
Bullish Targets
1664
EMA5 CROSS AND LOCK ABOVE 1664 WILL OPEN 1679, 1693 and 1710
Bearish Targets
1640
1622
EMA5 CROSS AND LOCK BELOW 1622 WILL OPEN 1586
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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