GoldViewFX - Update on STRUCTURE and LEVELS

Daily chart remains in a Bullish structure, although we saw a big rejection at 1852 target. We have a Goldturn trendline being supported in an upward trend, which is still in a Bullish setup. Until we see EMA5 on the daily chart crossing 1801 level the setup remains Bullish to pick buy entries once momentum settles. However we have eased up on buying dips, as the remaining timeframes have started to change structure. Please see updates on HOURLY and 4HOUR charts below.

4HOUR CHART

This chart just about maintains the Bullish structure but price is about to challenge 1791 with EMA5. A break down on this level will change the Bullish structure on H4, however right now still holding. This is at a transitional stage and best to wait for momentum to settle.

HOURLY CHART UPDATE

The hourly chart has changed structure and broken down strong supports, that have opened up lower targets, in the short term that momentum can easily go and hit. Our sell signals are starting to take strength. However this is all momentum driven so far and we will wait for all timeframes to fall in line before making a new trading plan for the coming weeks.

We will now observe the market over the next few trading days and make any changes needed to setups for a transitional switchover in direction and strategy if needed.

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GoldViewFX
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