GoldViewFX - 1H CHART UPDATED LEVELS & TARGETS

16. Okt. 2022

Hey Everyone,

Please see updated 1h chart Goldturns and targets for the coming week ahead.

As you can see, we finished off last week with strong movement down, range shifting into the new Rangebox by breaking 1646 Goldturn. This now opens 1637 Goldturn and should price maintain within the Rangebox we will see a challenge to the bottom of the rangebox down to 1620.

The key thing to notice here is; when a range shift takes place into the new rangebox, we need to see how this was challenged historically. We can see when price entered this rangebox previously we saw price re-test the entrance of the range box creating resistance before continuing the move down to test the bottom. This represents a retracement and therefore momentum from retracements can change direction. This is why any new range shifts are best traded after the re-test.

We will now wait patiently and continue to track and trade the movement with EMA5 cross and lock both ways confirming movement level to level.

BULLISH TARGETS
1646
1655

EMA5 CROSS AND LOCK ABOVE 1646 WILL OPEN 1657

BEARISH TARGETS
1637
1626
1620

EMA5 CROSS AND LOCK BELOW 1620 WILL OPEN 1605 AND 1592

SWING RANGE
1620

STRUCTURE SUPPORT
1592

As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!


GoldViewFX
XAUUSD TOP AUTHOR