Good morning, Traders!
Today’s edition of the Daily Direction is all about gold! Gold futures (GC) are currently up for both the long-term and short-term directions. We’re actively buying the market as it continues to move to a higher price.
As long as the GC continues to stay above the old down trendline, we’ll keep an eye on the short-term direction as we look for opportunities to buy the market while it’s on its way up.
We have a possible +300 tick movement with this trade if the market continues on its current course toward 1791.1.
Price predictions for markets can be tricky, but I’ve come up with a strategy that reveals this little-known quirk about how markets move toward certain prices. Check it out to learn more before diving into today’s timeframe analysis:
Daily Timeframe Analysis
The daily timeframe for the GC shows that the market has entered the buy zone and is working its way toward the daily up Fibonacci. That means we can use the daily timeframe to look for our high/low price before moving on to the one-hour to look for chances to buy the GC!
The long-term direction is up for the GC
The short-term direction of the GC is up
The GC is headed toward the up Fibonacci extension
Learn more about the Daily Direction Indicators here…
The GC has broken through the trendline and is headed for the up Fibonacci in the daily timeframe
Now that we know the GC is moving through the buy zone, we’ll take a look at our one-hour timeframe to actively search for buying opportunities in the market.
One-Hour Timeframe Analysis
In the one-hour timeframe, the GC broke the down trendline, created an up Fibonacci, and is now in the buy zone. We’ll keep looking for opportunities to buy the market so long as the GC stays above the old down trendline.
The one-hour GC timeframe shows the market still in positive territory as it gives us opportunities to execute our buying strategy
This is an excellent opportunity to trade the gold futures market! We have a good setup, and all of our indicators point to a profitable trade, so long as we stick to our strategy.
The Bottom Line
The GC is ready to trade, with both the long-term and short-term directions up based on our timeframe analysis.
We’re actively looking for opportunities to buy the GC as it moves through the buy zone and on to higher prices. We’ll jump in whenever we see low prices in the buy zone. Thanks to the timeframe analysis, we’ll know when to pull the trigger!
We’re actively looking for buying ideas in the GC market
As a result, following my futures trading strategy may be highly advantageous to you as a trader. You’ll discover when entering a market is a smart idea and when it’s best to stay away. I know you’re eager to get started making informed trading decisions right away, so now is the time to do so. There’s no reason to wait any longer!
Keep On Trading,
Mindset Advantage: Control
What you can control… accept that others are at the wheel of the market.
Unless you’re managing a billion-dollar-plus account… odds are very good that when you make an entry – you’re not going to move the market on your own.
No… the market isn’t responding to your entry, or your account, or your track record. It’s doing its thing based on institutional activity. The sooner you recognize this, the sooner you’ll be able to start making better entries and managing tighter exits.
Why? Because you need to trade with the institutions, not against the market. This means that you should focus on controlling what you can actually control.
Let the rest go and enjoy your trading!
Traders Training Session
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.