GoldViewFX - WEEKLY CHART UPDATE
Hey Everyone,
Please see weekly chart update.
We have kept the last 2 week's updates on the post so you can see how well the overall picture has been playing out week to week with our new week to follow.
TWO WEEKS AG0
We identified a weighted Goldturn at 1622, which was open for target, and hit perfectly. We also expected this level to act as support, which also played out as we expected. We took advantage of this and used our smaller timeframes to take buys from support and exit safely before rejection using Goldturns on our shorter timeframes. (THIS PLAYED OUT PERFECTLY)
LAST WEEK
This zone is a strong support structure for the weekly setup, and should this hold, we will see the bulls make a clean run to 1710 to test the upper structure. (THIS PLAYED OUT PERFECTLY!)
However, we are seeing EMA5 challenge MA200, a cross here will see another challenge to 1622. A break below the support structure 1622 - 1659 will open range down to 1504. (WE NEED TO KEEP THIS IN MIND)
THIS WEEK
We finished off last week saying we need to keep an eye on EMA5 crossing MA200. We can now see the chart above with EMA5 doing a Goldturn on MA200. This can be classed as a failure to cross, confirming Bullish momentum to follow. We will use the shorter timeframes to pick our entries and exits.
The weekly chart levels and structures are all set for us to be able to track and trade the larger movement.
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 weekly chart update.
We have kept the last 2 week's updates on the post so you can see how well the overall picture has been playing out week to week with our new week to follow.
TWO WEEKS AG0
We identified a weighted Goldturn at 1622, which was open for target, and hit perfectly. We also expected this level to act as support, which also played out as we expected. We took advantage of this and used our smaller timeframes to take buys from support and exit safely before rejection using Goldturns on our shorter timeframes. (THIS PLAYED OUT PERFECTLY)
LAST WEEK
This zone is a strong support structure for the weekly setup, and should this hold, we will see the bulls make a clean run to 1710 to test the upper structure. (THIS PLAYED OUT PERFECTLY!)
However, we are seeing EMA5 challenge MA200, a cross here will see another challenge to 1622. A break below the support structure 1622 - 1659 will open range down to 1504. (WE NEED TO KEEP THIS IN MIND)
THIS WEEK
We finished off last week saying we need to keep an eye on EMA5 crossing MA200. We can now see the chart above with EMA5 doing a Goldturn on MA200. This can be classed as a failure to cross, confirming Bullish momentum to follow. We will use the shorter timeframes to pick our entries and exits.
The weekly chart levels and structures are all set for us to be able to track and trade the larger movement.
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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