GoldViewFX - MONTHLY CHART LONG TERM GOLD OUTLOOK

Hey Everyone,

Okay for those of you who have only started following this monthly chart that we have been tracking, please review all the previous updates below as we continue to track this level to level to get upto date.

This has been playing out perfectly and now we finally have a candle body close above 1976 on this monthly chart, as the month closes. This is the first candle body close above this level and we will also have a new Goldturn high on this monthly chart, as the new month starts. These are all strong ingredients for us to see a ATH challenge and potentially a break to create a new ATH.

The only thing we need to keep in mind is the potential EMA5 detachment that will be formed, as the new month candles starts. We need to keep this in mind for potential swings down and use our smaller timeframes to buy dips accordingly.

LAST UPDATE
Please review our last update last week below. We can clearly see the detachment gap, which needs to be considered when managing risk for any longs. EMA5 has reached new high and this months candle close will be significant to confirm breakout. If we see a candle body close above the test zone it will lock EMA5 above the ATH Goldturn, opening the potential for a new ATH breakout or at the very least a test to the ATH.

We will play it extra safe this week keeping exposure low.

PREVIOUS UPDATE
Please see our Monthly chart idea which we have been tracking over the last few months. We completed all our bull targets with our final target hit 2 weeks ago highlighted by the circle zone we heighted on the chart. This played out to perfection!!!

Price fell just short of the ATH target test. This is a longer range/term projection so expect swings in between.

We stated on last months candle close the potential of a detachment ,which will require some retracement. We need to keep this in mind for potential drops to complete the detachment.

Price is now at a critical zone and we must tread carefully now. A test to ATH is likely and either a new ATH will be created or a big tank down. We will use our smaller timeframes to track the movement level to level.

We were able to track and trade this entire movement using our smaller timeframes for entries and exits. We identified the swing from the support all the way up to our test zone target that we have been reminding you all every time we updated this chart. This open target gave us the confidence over the last few months to buy dips. The swings we had below we also highlighted, as detachments that were completed and provided the dynamic support for a push up each time.

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

Trade closed: target reached