LEVI SHORT-TERM LONGMarket finished 1-5 Elliot wave, flat ABC correction and full 1-5 Elliot wave with XWY combination downwards, we were expecting it to bounce off of a demand zone, but it reversed earlier, R/R for this trade is way to low unless market retraces to our entry zone.
Entry: 16:76
Invalidation: 15.30
Target: 23 (50% fib zone)
Buysetup
ADSK LONG POSITIONWe just finished 1-5 Elliot Wave, ABC correction and XWY combination, and bounced off of a strong monthly demand zone, we already missed out on an entry, but we can still enter now but our R/R is low, I would suggest waiting for a retrace to an entry zone, because market made tiny gap while bouncing up which should be filled and we should get a good entry.
Entry 192 (After a retrace to entry zone for better R/R, we can enter now, but risk reward ratio is very low)
Invalidation 123 (Just below Demand zone)
Target 1: 260 (50 Fib zone)
Target 2: 299 (Daily gap zone)
$HYMCL Long term PTs 2-4 and higherHycroft Mining Holding Corporation , together with its subsidiaries, operates as a gold and silver producer in the United States. The company holds interests in the Hycroft mine covering an area of approximately 70,671 acres located in the state of Nevada. As of December 31, 2020, its Hycroft mine had proven and probable mineral reserves of 11.9 million ounces of gold , and 478.5 million ounces of silver . Hycroft Mining Holding Corporation was formerly known as Mudrick Capital Acquisition Corporation. The company was incorporated in 2017 and is based in Denver, Colorado.
AMC Theaters ( AMC ) is getting into the gold mining business. The theater chain announced it bought a stake in Hycroft Mining Holdings ( HYMC ), a precious metals company.
AMC's CEO Adam Aron wrote on Twitter , "AMC is playing on offense again with a bold diversification move. We just purchased 22% of Hycroft Mining (NASDAQ: HYMC ) of northern Nevada."
GoldViewFX - MARKET UPDATEHey Everyone,
What a volatile few days of trading, we hope everyone traded safe and managed risk during these volatile conditions.
We started our day with a signal TP and then sat back and let the price tank for us to asses how price action reacted to our Goldturn levels. Over the last month we have shared how we rode the Bull run to the top from behind, which allows us to take a safe exit from the Bull run when the market turns. We managed any buys from the top by measuring retracements and getting out early using our Goldturns.
1906 Goldturn support has held for now with a candle wick out, which followed with price hitting 1922 with EMA5 breaking and closing above 1922 leaving a target open for 1935, we also have 1922 broken down with EMA5 leaving a target to 1906 again, TARGETS open both ways. Two gaps left open to fill, 1906 being the most recent and current active gap.
The more significant challenge for us to keep an eye on is a break below 1906 with EMA5. This will open 1888, which opens the lower range, changing the Bullish structure. The range shift has happened but driven by news and FOMC, therefore it is too early determine a change in the Bullish structure, however a break below 1906 will change our plans to buy dips and we will look to start shorting from spikes.
Our 4H chart has already started shaping up with a Bearish setup with SWING range and level identified. See below;
As always we will keep you all updated with any changes to our plans and we hope you find our open transparent sharing and reviewing of changes to our ideas helpful. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - Market UpdateHey 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
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.
We will keep you all updated with any changes, please don't forget to like, comment and follow to support us.
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - Market UPDATE- LEVELS & TARGETS FOR THE WEEKHey Everyone,
We had an awesome finish to the week taking exits on the buys at 2006 Goldturn and then we had a rejection, which saw price retrace down to the full swing range at 1958, see below;
The swing range gave another opportunity to buy at 1958 for exit before the next Goldturn at 1979 close to 200 pip movement. My trading plan on the chart together with the strategy to only buy 20 to 30 pips at a time always gives the opportunity to avoid getting stuck in the swings and always allowing better and safer entries strategically sitting behind the trend allowing me to capture without getting stuck. This skill I have acquired over time and requires a good trading psychology and stamina to wait patiently for these sweet entries.
We remain Bullish and whilst we had some movement down, we just need to zoom out of the charts to see the Bullish structure, please see below;
This zoomed out 1H chart setup shows the clear Bullish structure and trend and the current swings fall within the Goldturn trendline. This charts also shows room for retracement down to 1969, which we will keep in mind while takin buys from support levels or signals.
End of week retracement down has bought us back into the price range of 1958 to 2006. Therefore we have moved our swing range down to 1935 for good measure to be able to manage the swing below the range. Due to the volatile market conditions this will help us to manage any premature exits and SL hunting and will allow me to risk manage the movement within these extended boundaries outside the range. Any tests on these strong support levels will allow me to take 20 to 30 pip buys and get out safely even if the volatility pushes the price against our anticipated direction.
We have an immediate TARGET of 1995 , which was activated with the EMA5 Goldturn break and close above 1979. Lets see how this plays out. Please note I will be observing both the immediate retracement level 1969 and swing range of 1935 throughout the week, as part of my risk/money management.
As always, we will keep you all updated with any changes to our plan and targets. Please don't forget to like, comment and follow to support us.
GoldViewFX
XAUUSD TOP AUTHOR
$ENSV Next Target PT 9.90 and higher...Long term PTs 20-60 Enservco Corporation, through its subsidiaries, provides well enhancement and fluid management services to the onshore oil and natural gas industry in the United States. It offers frac water heating, hot oiling, pressure testing, acidizing, bacteria and scale treatment, freshwater and saltwater hauling, fluid disposal, frac tank rental, well site construction, and other general oil field services. The company owns and operates a fleet of approximately 338 specialized trucks, trailers, frac tanks, and other well-site related equipment. It operates in the eastern United States region comprising the southern region of the Marcellus Shale formation and the Utica Shale formation in eastern Ohio; Rocky Mountain region consisting of western Colorado and southern Wyoming, central Wyoming, western North Dakota, and eastern Montana; and the Central United States region, including Eagle Ford Shale and Permian Basin in Texas. Enservco Corporation was incorporated in 1980 and is headquartered in Longmont, Colorado.
GoldViewFX - Market UPDATEHey Everyone,
Another BOOOMING day for us catching the buy from the 1970 dip. We caught the Buy from the 1979 Goldturn level, when it created the Goldturn above 1978. This gave us the confirmation for support, together with our setup and plans to buy dips. This played out beautifully! This was banked at 2006 followed with plenty of scalping between 1995 and 2006.
We have always mentioned how we let the price play out first and then we use the Blueprint with updated Goldturn levels to catch the movement and trade it in levels, allowing us to use the updated Goldturns for entries and exits. We have now updated the H1 Goldturn levels for intra-day trading.
2006, 2019 and 2038 are the next Bull targets with a swing range of 1958 to risk manage.
4H CHART
Our 4H chart is playing out perfectly with a nice buy we took from 1982 to 2000, as part of our plans to buy dips with a catch of 30 to 40 pips at a time. This allowed us exits without getting stuck in swings. We have a swing range of 1948 on the 4H chart to risk manage for now.
As always, we will keep you all updated with any changes to our plans. Please don't forget to like, comment and follow to support us. We really appreciate it and the likes and comments are not going unnoticed, Thank you!
GoldViewFX
XAUUSD TOP AUTHOR
$CRDO ready to move higher after a great ER?* New IPO with a strong up trend even in this market
* Great earnings report
* Sector: Technology - Communication Equipment
* Relative Strength vs. Sector: 2.62
* Relative Strength vs. SP500: 4.18
* U/D Ratio: 1.07
* Base Depth: 28.05%
* Distance from breakout buy point: 0.31%
* Volume 66.03% above its 15 day average.
* Bullish candle with high volume with a great ER
Trade Idea:
* Now's a great time to enter as the price is just above the breakout level.
Gold longs for Asian session. I have a nice intraday set up for gold right now after price broke structure creating a new low and also took out some nice sell side liquidity on HTF. I’m expecting a nice rally back into 2000 before we head lower maybe for London session. Once price reaches the supply zone level I will be looking for a sell signal. Thanks for watching
GoldViewFX - MARKET UPDATEHey Everyone,
Another awesome day of pip collecting for us. We took buys behind the movement and sell signals down, as per the chart we posted yesterday. The reason why we always take 30 to 40 pips at a time, it helps us to get out early to avoid longer swings and not get stuck by stretching out a target. We always over compensate. This is why we always display the swing range, as it helps us to keep in check.
We expected another challenge to 2060 (WE GOT 2059), just beautiful, followed with some retracement, which we are seeing now. The rejection at 2059 followed with a deeper retracement but still within the swing range. The structure remains Bullish so we are picking up buys but scalping until we see Goldturn created above a previous days Goldturn, which will give us more confidence in jumping back on the Bull. We have a swing range to 1948, which we need to keep an eye on, as we can see EMA5 challenging 2000 Goldturn level and EMA5 about to cross MA21. If this cross happens, we can potentially see 1926, before we jump back on the Buys!
We are letting the price get comfortable in this range for a blueprint for us to follow. Just like we said the 2060 Goldturn was re-challenged again and we were able to catch it safely on the retest. As always we will keep you all updated with any changes to our plans and setups.
We will update the hourly levels and analysis tomorrow before the US session, which will give us enough data to identify some new targets.
Please don't forget to like, comment and follow to support us, we really appreciate it.
GoldViewFX
XAUUSD TOP AUTHOR
$VTNR Next Target PTs 14-20 and higherVertex Energy, Inc., an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. The company operates in three segments: Black Oil, Refining and Marketing, and Recovery. The Black Oil segment collects and purchases used motor oil directly from third-party generators; aggregates used motor oil from a network of local and regional collectors; and sells used motor oil to customers for use as a feedstock or replacement fuel for industrial burners. It also produces and sells a vacuum gas oil product to refineries and marine fuels market; and base oil product to lubricant packagers and distributors. The Refining and Marketing segment gathers hydrocarbon streams in the form of petroleum distillates, transmix, and other chemical products that are purchased from pipeline operators, refineries, chemical processing facilities, and third-party providers; and sells end products, such as gasoline blendstock, pygas, and fuel oil cutter stock to oil companies or to petroleum trading and blending companies. The Recovery segment sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services. Vertex Energy, Inc. was founded in 2001 and is headquartered in Houston, Texas.
$USWS Next Target PTs 10-11-25 and higherU.S. Well Services, Inc. operates as an oilfield service company in the United States. It provides hydraulic fracturing services to the oil and natural gas exploration, and production companies. The company was founded in 2012 and is headquartered in Houston, Texas.
GoldViewFX - H1 AND DAILY CHART UPDATE - ALL TARGETS HITHey Everyone,
This is just an update post to review the two ideas on the HOURLY and DAILY CHART we posted yesterday.
Targets have been HIT perfectly and our trading plan played out beautifully!!
Although we are at a strong resistance here we are expecting a break above (see 4h chart on related post). If this break does not happen within the next 24 hours, we do expect some play in the swing range before can we resume for the challenge again and because I trade the blueprint and not the movement itself, it allows me to safely trade and get out on the turn.
The skill in trading is not in the direction alone but how you ride the movement! We are happy to have shared not only the direction but how we also rode the movement.
H1 CHART UPDATE
TARGET: 2060
SWING RANGE 1979
We are waiting for some ranging movement in this range, which will then allow me to plot new Goldturns and provide a more detailed plan to trade the rest of the week. Waiting patiently for a blueprint!!
As always we will keep you all updated with any changes throughout the week; please don't forget to like the post, so we can keep the post updated.
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - 4H Market UPDATEHey Everyone,
BOOOOOOM !!!!!!!!
We smashed our calls and rode the Bull all the way !!!! We are not just saying it, if you've have been following our posts (see related below) you would have caught the move with us.
2013, 2024 AXIS TARGET, 2036, AND 2060 ALL HIT.
We expect another challenge to 2060 followed with some retracement and then for our ARTs (Average Range Targets). In a new range when we don't have historical Goldturns to use, we use our own custom sequence to generate levels, we call this ART!! We will introduce this more often in the coming months, as we seek to create new highs.
We remain Bullish and we will continue with our plans to Buy dips and we will also consider any sell signals that activate on this range. When we see new ranges and breakouts the safest way to trade this, is to let the movement happen. Let price get comfortable in the new range and that will leave us with a blueprint for us to follow. This will then allow us to safely trade the levels on this range. Take for example now that 2060 has been HIT, we expect this to be hit again.
Bull Targets 2060, 2080 and 2109.
As always we will keep you all updated with any changes to our plans and setups. Please don't forget to like, comment and follow to support us, we really appreciate it.
GoldViewFX
XAUUSD TOP AUTHOR
$GBR PT 49 and higherNew Concept Energy, Inc. engages in real estate rental business. It owns approximately 190 acres of land located in Parkersburg West Virginia. The company was formerly known as CabelTel International Corporation and changed its name to New Concept Energy, Inc. in May 2008. The company was founded in 1978 and is based in Dallas, Texas. New Concept Energy, Inc. is a subsidiary of Arcadian Energy, Inc.
GoldViewFX - 4H CHART UPDATED LEVELS & TARGET$$Hey Everyone,
As promised I have updated the most significant historical Goldturns on the 4H CHART that will work with our EMA5 cross and lock level to level trading setup.
I have also used our color coded BLUE (BUY) and RED (SELL - TAKE PROFIT) zones for a Bullish setup and any sells taken from the red zone can be banked on the blue zone.
We have a 2013 Trendline target and a 2024 AXIS target on the 4h chart setup, which will play a big part in confirming a continuation or rejection of this range and breakout with a EMA5 cross and lock or a rejection with EMA5 Goldturn created below 2024, which will open the full swing range to 1925. However until then we remain Bullish and buying dips confidently!
We will keep a close eye on this chart and update any changes accordingly.
Please don't forget to like, comment and follow to support us, we really appreciate it.
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - 1H MARKET UPDATEHey Everyone,
Another PIPTASTIC day of trading.
Our Trading plan was a piece of art. I wanted to share the chart, as it is, to allow you all to see how well the setup was respected. True class!!!
You can see the break above 1974, which we said once broken and tested as support will give us confidence to jump onto buys. The break above 1974 was then supported by 1974 Goldturn and our Gold turn trendline, which gave us 5 entries throughout today with each entry providing 100pips to a safe exit to next Goldturn. I have marked the entries and exits with green ticks to show you all how the plan played out.
The blue zone played out perfectly for the buys and this setup can be used throughout this week if price remains in this range, however we have one target left at 2004 before we update our plans. Please see Daily chart on related post below for the higher targets above 2004.
This setup is still fully in play should price remain in this range and buying dips from Goldturns is still part of our plans for the week. As always we will keep you all updated throughout the week.
Please don't forget to like, comment and follow to support us, we really appreciate it.
GoldViewFX
XAUUSD TOP AUTHOR
$FMC breaking out of a 16 month base!* Great earnings
* Very strong up trend
* Relative Strength vs. Sector: 5.07
* Relative Strength vs. SP500: 3.23
* U/D Ratio: 1.6, meaning it's under accumulation
* Base Depth: 37.54%
* Distance from breakout buy point: 1.47%
* Volume 22.29% above its 15 day avg
* Breaking out of a 16 month base
Trade Idea:
* You can enter now as the price is really close to the breakout level of $119.52
* Or if you're looking for a better entry you can look for a buy opportunity near the $119.52 area or wait for a pull back near the $116.57 area.