GoldViewFX - END OF WEEK UPDATE
Hey Everyone,
Quick end of day closing post.
NFP today so we always advise non experienced traders to just stay out and observe. We however waited for the NFP momentum to exhaust and took buys from the bottom of the channel banking 30 pips at a time.
As you can see the Goldturn channel is being respected and now testing support. The channel break with price is not confirmation of a breakout. We need to see EMA5 break the channel and lock out to confirm any break out. Either way NFP driven momentum should not be used to determine overall direction, once the noise is over, we wait for the new week and let the price fall back into its organic setup.
We had an awesome week collecting over 500 pips in premier. We will now come back SUNDAY with our full multi timeframe analysis for the coming week.
Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Quick end of day closing post.
NFP today so we always advise non experienced traders to just stay out and observe. We however waited for the NFP momentum to exhaust and took buys from the bottom of the channel banking 30 pips at a time.
As you can see the Goldturn channel is being respected and now testing support. The channel break with price is not confirmation of a breakout. We need to see EMA5 break the channel and lock out to confirm any break out. Either way NFP driven momentum should not be used to determine overall direction, once the noise is over, we wait for the new week and let the price fall back into its organic setup.
We had an awesome week collecting over 500 pips in premier. We will now come back SUNDAY with our full multi timeframe analysis for the coming week.
Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
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