How to Spot a Change in a Market’s Direction

Happy Friday, Daily Direction readers!

We’re still following the gold futures market (GC) as both the long-term and short-term directions remain up, though the one-hour is showing signs of dropping below the bottom of the channel. We’ve followed the GC market all week as it gave us a good turnaround after dropping from a high price. Now, the price has dropped toward the bottom of the channel and given us a new bullish push.

Both the daily and one-hour timeframes are moving upward, meaning the market is giving us opportunities to trade in the long run. We’ve been actively looking for buying opportunities in the GC as the market moves toward the 1871.6 price point. But is the short-term direction changing again?

We’ll keep looking for chances to buy the GC at low prices as it makes its way through the buy zone, but we’ll need to keep an eye on the short-term direction.

Daily Timeframe Analysis

On a daily basis, the market is now trending upward, indicating that our long-term forecast remains positive.

We’ll keep an eye on the daily timeframe to make sure the GC holds to an upward trend.

DAILY TIMEFRAME

The long-term direction is up for the GC

1-HR TIMEFRAME

The short-term direction of the GC is up for now

THE BOTTOM LINE

The GC has rebounded off the bottom of the channel and given us a bullish push


Learn more about the Daily Direction Indicators here…

Daily timeframe

Within the daily timeframe, the GC continues on a positive path

As the market continues to move upward, we’ll want to pay close attention to our trendlines so we can see if the trend suddenly changes. And that’s why accurate trendlines are so important for this strategy.

One-Hour Timeframe Analysis

The one-hour timeframe shows the GC breaking the counter trendline and moving into the buy zone, giving us options for buying the market. But the analysis also shows the market dipping below the bottom of the current channel. We’ll want to keep an eye on this as trading continues to see if the short-term direction has changed.

One-hour timeframe

The one-hour timeframe for the GC shows the market breaking through the counter trendline and moving through the buy zone. But we’re seeing a dip develop

This is an example of how my strategy can help you see changes developing within a futures market. Without these timeframe analyses, we’d be shooting in the dark!

The Bottom Line

We’ll keep an eye on the one-hour timeframe to see if the market closes below the bottom of the channel. If that happens, we’ll adjust our strategy accordingly. Direction shifts can happen pretty quickly within the short term. That’s why it’s so important to stick with our plan and watch our timeframes!

The Bottom Line

We’ll keep an eye on the GC to see if the short-term direction shifts

Without my strategy, you’d be completely confused when it comes to how to handle the gold futures market right now. That’s why it’s time to start utilizing my knowledge and expertise right now! You can’t afford to miss out on this.

Keep On Trading,

Mindset Advantage: Just Breathe

If you’re not breathing, you’re not focused. If you’re not focused, you can’t see the market. Opportunities slide by in an instant. Hazards reveal themselves only when it’s too late.

You need to breathe. Breathing exercises have proven to reduce stress and increase focus.

Sure, you’re already breathing if you read this. But when you trade… you need a breathing regimen. Whatever it is: Through your nose, out your mouth counting to 10 or 100. Find a method and routine that works for you.

You’ll find balance, clarity and focus when you trade. Your heart rate will come down and you’ll just feel better.

Try it. And enjoy your trading.

Traders Training Session

future price direction

Anticipating Future Market Price Direction

Stay tuned for my next edition of Josh’s Daily Direction.

And if you know someone who’d love to make this a part of their morning routine, send them over to https://joshsdailydirection.com/ to get signed up!

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

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