GoldViewFX - 1H CHART UPDATED LEVELS & TARGETS

Hey Everyone,

What a crazy last two trading days! we had the breakout up on Friday followed with a full retracement of the movement today in line with back to benchmark strategy (see related post below on back to benchmark).

We hit all our 1H CHART trading idea TARGETS at 1871, 1875 AND 1878.

This followed with the drop which broke our SWING RANGE, which failed to hold. Any positions from the swings will need management. The movement seems to be pricing in FOMC and depending on the percentage increase whether inline with the rumours (currently priced in) or more will determine the remaining momentum. Trading this market is risky and technically the chart will be out of sync. Once the market settles back into organic state we expect price to resume back into a tradeable range size. Currently we are seeing 100 pip plus candles and 400 pip plus range. Unless you are breaking down your lots into smaller exposure this will be a difficult market condition to trade.

Price is challenging the 1826 Goldturn also inline with the Goldturn support trendline. If this level finds some support we will see some movement up to test the failed swing range. If the swing range turns into resistance we will see movement down. A break above the swing range and a re-test as support will confirm the movement back up.

EMA5 break and lock below 1822 will open targets below down to 1805, which is a significant challenge inline with 1804 on the daily chart (see below)

Again this is driven by news so best to let this play out before changing overall mid to long term plans.

As always we will keep this chart updated with any changes to our plans. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
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