GoldViewFX - WEEKLY CHART MID/LONG TERM PROJECTION

Hey Everyone,

Please see our previous update on this chart below to get upto date with our chart flow on this idea and how well this has been tracking.

We stated last week that price was testing the channel bottom and testing strong support levels and that we were expecting a reaction bounce. This played out perfectly with a nice Bullish candle last week.

Long term we are looking for the axis test at 1954. However, if we see another challenge to the channel bottom and a break below with ema5 cross and lock, then we are likely to see the range below open up. Failure to lock below the channel bottom and we are likely to see a 1954 axis retest at some point.

MR GOLD


LAST UPDATE
Hey Everyone,

Please see our last update on this chart below to get upto date with our chart flow on this idea.

Price is now testing the channel bottom and testing strong support levels.

We are expecting reaction bounces in this range to . A break below this range with ema5 cross and lock below this channel bottom will open the range below, in which case the structure dynamics will change and we will update to a new weekly chart plan. Failure to lock below the channel bottom and we are likely to see a 1954 axis retest at some point.

MR GOLD

LAST UPDATE
Hey Everyone,

Please see update on our weekly chart projection.

We stated last week that although we had the candle body close above 1954 AXIS, we did not get the ema5 cross and lock above this level and therefore no solid confirmation. This played out and confirmed the rejection, which followed with a push down.

Price is within the weekly swing range, with room for 1894 - 1877 channel floor test in the short term. Overall you can see we are in a Bullish ascending Goldturn channel maintaining a long term uptrend.

We will continue to see swings and ranging movement until we see the half-line test with ema5 lock above the 1954 axis level for a breakout into the upper half of the channel.

We need to keep in mind we are now at the bottom part of the channel and therefore swings to complete the channel bottom and then test the top need to be part of our long term plans. We will use our smaller timeframes to buy from dips to be able to catch the ride up safely without missing the train.

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