Hey Everyone,
The hourly chart has HIT all the Bullish TARGETS identified. Once again our strategy to take 20 to 40 pips at a time using our levels gave us safe exits on our buys. Even when the market moves outside the technical sequence due to external news our technical analysis gave us the exit with precision!!
The market took the price down using St. Louis Fed President James Bullards comment as an excuse. Bullard said that hikes of 75 basis points should not be ruled out. The last increase of that size was in 1994. They have taken out some of the retail traders and will now buy back in at a lower price to reach the upper targets again. PATIENCE is staying out and coming back in with the smart money.
The market may now move sideways here in this range before we see it settle back into organic movement. 1961 GOLDTURN support level was a strong level that got taken out, opening 1952 and 1944, which was HIT. 1944 is our next significant support level. EMA5 break and close here will see 1940, 1931 and 1927 open for TARGETS. Failure to break 1944 will see price BACK to BENCHMARK (SEE RELATED POST BELOW ON BACK TO BENCHAMRK)
BULLISH TARGETS
1952, 1961, 1969
RETRACEMENT TARGETS
1944, 1940, 1931
SWING RANGE
1921
DAILY CHART
The daily chart structure is very much Bullish and the overall trend is clear. MA's are still aligned in order ma5, ma21, ma50, ma200. Even taking into consideration the FULL SWING RANGE of the daily chart should ema5 cross over some of the MA's, we still remain in a clean uptrend.
I remain confident in BUYING dips in this market condition and taking 20 to 40 pips at a time will give us a better chance in navigating curve balls the market throws at us. Today was the perfect example! We will trade this range Goldturn to Goldturn and entries and exits using our custom daily INTRADAY levels that we share with our members daily.
As always we will keep you all updated with our trading plans daily. Please don't forget to like, comment and follow to support us, it helps us bring more content to you all.
GoldViewFX
XAUUSD TOP AUTHOR
The hourly chart has HIT all the Bullish TARGETS identified. Once again our strategy to take 20 to 40 pips at a time using our levels gave us safe exits on our buys. Even when the market moves outside the technical sequence due to external news our technical analysis gave us the exit with precision!!
The market took the price down using St. Louis Fed President James Bullards comment as an excuse. Bullard said that hikes of 75 basis points should not be ruled out. The last increase of that size was in 1994. They have taken out some of the retail traders and will now buy back in at a lower price to reach the upper targets again. PATIENCE is staying out and coming back in with the smart money.
The market may now move sideways here in this range before we see it settle back into organic movement. 1961 GOLDTURN support level was a strong level that got taken out, opening 1952 and 1944, which was HIT. 1944 is our next significant support level. EMA5 break and close here will see 1940, 1931 and 1927 open for TARGETS. Failure to break 1944 will see price BACK to BENCHMARK (SEE RELATED POST BELOW ON BACK TO BENCHAMRK)
BULLISH TARGETS
1952, 1961, 1969
RETRACEMENT TARGETS
1944, 1940, 1931
SWING RANGE
1921
DAILY CHART
The daily chart structure is very much Bullish and the overall trend is clear. MA's are still aligned in order ma5, ma21, ma50, ma200. Even taking into consideration the FULL SWING RANGE of the daily chart should ema5 cross over some of the MA's, we still remain in a clean uptrend.
I remain confident in BUYING dips in this market condition and taking 20 to 40 pips at a time will give us a better chance in navigating curve balls the market throws at us. Today was the perfect example! We will trade this range Goldturn to Goldturn and entries and exits using our custom daily INTRADAY levels that we share with our members daily.
As always we will keep you all updated with our trading plans daily. Please don't forget to like, comment and follow to support us, it helps us bring more content to you all.
GoldViewFX
XAUUSD TOP AUTHOR
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