GoldViewFX - MONTHLY CHART LONG TERM GOLD OUTLOOK

22 Jan 2023

Hey Everyone,

This is our Monthly setup that we have been tracking and trading for the last 4 months and as you can see this has played out perfectly hitting all our Bull targets like we projected. Please review the last 4 months update on this chart so you will be able to see how well this played out.

We are now at strong resistance zone and although there is room for tests above highlighted by our last arrow into the test zone, its an area where a lot of traders will get stuck both ways. Historical data shows, although this level of zone is a resistance area, we see aggressive movements into the upper areas without price being able to sustain itself, which always leads to wick outs.

We are now likely to get those tests above followed with retracements. It is crucial for us to use our smaller timeframes to navigate potential swings and capitalise on the move.

We will now also slow down with our intraday trading, as the next 4 weeks will be crucial in terms of long term direction for gold. If the test zone manages to secure candle body closes then we can also gear up for a test to all time high and potentially beyond this year.

Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
XAUUSD TOP AUTHOR