The Glittering Gold Trade to Make Now

Good Tuesday, Traders!

With US stock and bond markets still in turmoil on any given day or week, one of the best alternative assets is providing some great trading opportunities so far this year.

Gold is the ultimate trading hedge for many traders and has been glittering with opportunities and actual trading gains so far this year. 

Year to date, gold on a cash basis alone is up by nearly 8% in price, with gold futures contracts (GC) amplifying that gain by multiple folds. 

And periodically this year, including from Jan. 21 through March 8, gold has soared even more, gaining nearly 12% alone for that trading period on a cash basis.

Recently, gold has traded back from the gains into early March and has been range-bound for a while. 

But that’s changing this week with gold gaining again and setting up a great trade idea for the week for gold futures contracts.

Gold Futures Chart

Here’s how the trade shapes up in the chart…

Gold Futures Contract Price & Technical Analysis – Source TradingView

The Step by Step Trade Setup

And here’s how the trade should set up according to the research…

The Gold (GC) one hour time frame is in an up channel. The market hit the bottom of the channel and is pushing bullish towards the top of the channel.

Entry: Counter trend line break-bullish above the bottom of the channel.

Stop: 1,928.50

Limit: 2,001.80

As long as the market stays above the bottom of the channel, it will be a good idea to turn to the five minute time frame and to look for Tunnel Trader/Destination Trader long opportunities.

This idea was posted on the Traders Agency website as well as my TradingView page, as I always seek to get plenty of comments and evaluations on my trade ideas each and every week.

As the gold market further advances with our target and limit prices in sight, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day for more of my futures contract trading tutorials as well as some additional trading ideas!

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

Keep On Trading,

P.S. My top associate here at Traders Agency, Ross Givens, has a breakthrough trading strategy for identifying stocks that are trading under-the-radar for stealthy gains in the making… Way before other traders catch on to them!

I’ve asked Ross to explain his process, and you can access his latest presentation for free right here and now.

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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