GOLD MARKET UPDATE

Hey Everyone,

Great finish to the week once again with all our chart ideas playing out, as analysed.

This is an update on our new daily chart idea which we shared on last Sunday, which also played out perfectly .

We had candle body close and ema5 above lock above 2827 leaving target to 2904 AXIS. This was hit perfectly this week completing this level and also into the channel top for the perfect finish and rejection.

We have body close above 2904 AXIS but will need ema5 lock to confirm 2959, although the channel top is acting as resistance and therefore will need some ranging movement within the channel so it can slowly ascend into the 2959 respecting the channel dynamics.

We also need to keep in mind the channel half line below to establish floor to provide support for the range. A break below the half line will open the lower part of the channel to establish floor on the channel bottom.

This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.

We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead and also a new Daily chart long term chart idea, now that this one is complete.

Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it!

Mr Gold
GoldViewFX