Price Of Gold (XAUUSD) Update - What Ranges Are In Focus?

GOLD – Potential Bullish Reversal!

GoldViewFX - Market Update by Goldviewfx on TradingView.com

Hey Everyone,

We had movement down to start the day with any buys taken from the top would have had stops taken to then range manage and take entries from the Bottom. We took trades strategically from the bottom, at the right opportunity to manage any buys taken from the top.

We can see the 4H chart swing range 1948 was respected and price remains above this to maintain the Bullish structure.

1H CHART

snapshot


The 1H chart swing range is at 1935 and therefore we will wait for this movement to finish before committing to stronger buys. 1935 and below may be tested, as there is room for this push down, as the MA's are gearing up for this push. We will take signals both way should they activate. But for now it will be best for us to observe and let this move play out

There is not much change in the setup, as we remain above 1935 and whilst we had movement down we must always zoom out to review the chart to really see if much has changed in terms of the structure. My plan is to continue to buy dips but will wait for this movement to exhaust before resuming these plans.

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GoldViewFX
XAUUSD TOP AUTHOR