GoldView Sell Target AND chart observation.

SELL target 1774
Our trade played out nicely for the buy and as discussed we took our sell from that buy target. Our target for this sell is 1774. We are taking our sells with small lots and tight stops, as our overall analysis still expects another Bull run.


CHART OBSERVATIONS

H1 Chart
Ranging between Support 1789 and Resistance 1797
Price and Moving averages consolidating
Our moving averages are all below price, acting as support
Price is currently moving sideways between resistance and Moving average support
Currently what we see is a flatline effect, which is common before a breakout
This indicates potential for a large movement either direction
If Moving average support holds strong we can expect an attempt at 1797 and then 1800-1806
If support is broken the next level of support challenge will be 1778 and below

H4
Support 1789 and Resistance 1794
Moving averages are all below price, acting as Support
Price is currently challenging 1794 and all our moving averages
If price breaks resistance at 1794 the next level of resistance will be 1800-1804
However if price is unable to break resistance it will attempt to test support at MA21, MA63 and MA84 before support at 1787 and below

D1
MA200 is acting as strong resistance
MA21, 63, and 84 are acting as support

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GoldView

Trade closed: target reached:

As per analysis we saw the drop and now part banked at 1779 and moved stop to entry. We will look to add more to this if we get a retracement.