GoldViewFX - WEEKLY CHART UPDATE

Hey everyone,

Please see weekly chart update.

Although we saw price break out of the channel it found support where we highlighted and a nice bounce off this level, We have been catching this movement up level to level using the smaller timeframes. EMA5 failed to cross the historical 1738 Goldturn down, which provided the support needed for the push up and confirmation for the turn and swing.

MA200 on the weekly chart is now moved up from 1653 to 1660 and we need to keep this in mind, even if this gets pulled up it can still meet close to this range in weeks ahead and we must consider this in managing our risk accordingly. We had a EMA5 detachment at 1765 when price dropped to the support structure. This detachment is now complete and now left with a candle body close GAP TARGET to 1796.

As mentioned already the weekly chart is still in a critical support zone and although looking bearish a challenge and ema5 break above 1796 will change the structure to Bullish once again and we are expecting this challenge.

Our plans to BUY from dips is still in play, as we are still in a critical support zone /close to good liquidity zones, making it safer to take BUYS with protection. Waiting patiently for the right entry is key to avoid any swing traps.

We will keep this chart updated with any significant changes to the structure. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
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