GoldViewFX - Market UPDATE

Hey Everyone,

Quick update on the market from us. We had some downward pressure on Gold due to Feds expectation of rate rise and also peace talks around Russia and Ukraine situation. As a technical trader we always expect external news to have impact on the market that throws price off the technical sequence.

This is where our experience comes in and you can truly appreciate why I keep banging on every day about only banking 20 to 30 pipis at a time to avoid swings. Even on a day like this we were able to take buys from support and comfortably bank between 20 to 40 pips and exit safely.

We remain Bullish and will continue to buy dips. However as we are at a strong support level of 1917, we need to see how EMA5 reacts to this level. A break below this level will open up the lower levels, in which case we will hold back till we find support. A rejection here will see us back into challenging 1928, 1935 and above.

At this moment in time we have banked and are out of all trades and will now let momentum exhaust and wait for some consolidation and then we will re-chart and assess our plans. As always we will keep you all updated with any changes.

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GoldViewFX
XAUUSD TOP AUTHOR