GoldViewFX - MARKET UPDATE

18 Okt 2022

Hey Everyone,

Another great day of trading for us today. We saw price move sideways between both the range box following the retracement from yesterday's Bullish movement.

As mentioned yesterday, we were looking for support above 1657 or 1646 to continue for another push up. 1646 was respected perfectly allowing multiple buy entries using MA's as dynamic resistance for exits and also our algo generated intra-levels. We call this milking the range!!

We are confidently taking buys from support levels but keeping in mind 1620 swing range into our risk management plans when managing entries. Keeping lot sizes small in this range will allow us to get in at better price levels. MA's have now started to converge together, which means we are about to see a breakout again.

It's not rocket science for traders and so-called gurus to share where they think the markets going; it's a 50/50 guess for anyone. The skill is in identifying the right entry and exit, which most fail to do or they share it after the movement. At GVFX we can trade with the trend or against it, our robust setup always delivers!

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 - DONE
1655 - DONE

EMA5 CROSS AND LOCK ABOVE 1646 WILL OPEN 1657 - DONE

EMA5 CROSS AND LOCK ABOVE 1676 WILL OPEN 1683, 1691, 1698 AND 1708.

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