This opportunity is golden!

It’s time to take another look at gold futures (GC)!

We’ve talked a lot about gold over the last month or so, and for good reason. But, if you missed it,take a look back to when I predicted that gold futures would be making some impressive price movements.

Right now, things are looking up for the GC. The price has broken our counter trendline and is headed bullish again! The daily and one-hour timeframes reveal that gold is up, and we’re in the buy zone!

I’ve been hollering and screaming about gold for some time now. We talked about the GC market well before the popular pundits did. If you thought you missed out, now’s your chance to get in and make profitable trades in gold.

Let’s go over the timeframe analysis so you can see for yourself how this opportunity is developing…

Daily Timeframe Analysis

Looking at the daily timeframe, we see that the GC market did break and close above the counter trendline, just as anticipated. That’s good news because it means we’re entering another opportunity for buying the GC market!

Chart the channel

The GC daily timeframe is still in an up channel and has broken the counter trendline (top diagonal grey line). That means the market is ready for a bullish rally (long green arrow)

Now that the GC price is through the counter trendline, we’re expecting it to continue moving up toward the 2486.6 price point. That would be a +7029 tick movement! If you need a refresher on ticks and price movement, check out my trading tip on the subject! Now that we’ve confirmed our data in the daily timeframe chart, let’s turn to the one-hour timeframe to research our buying opportunities…

One-Hour Timeframe Analysis

The one-hour timeframe reveals that the GC is clearly in the buy zone. Looking at the chart below, you can see that the price is above the counter trendline (top diagonal grey line). That long down trendline you see running across the top of the chart represents a pretty extensive price resistance. Now that we’re above it, it’s time to watch the market for opportunities to buy!

Chart the channel

The one-hour timeframe chart for the GC market reveals that the price has broken above the long counter trend line top green arrow) and moved into the buy zone.

We’ll keep an eye on the one-hour timeframe and watch for chances to jump in and buy the GC. Remember that we want to buy at low prices along the way as the market moves through the buy zone and to the next up Fibonacci.

The Bottom Line

The news is good for the gold futures market! Both the long-term and short-term directions are up, and the market is in the buy zone. Now we watch the one-hour timeframe chart and wait for opportunities to buy. 

The Bottom Line

The direction for the GC market is up and we’re ready to look for buying opportunities!

So what are you waiting for? Now’s your chance to get in and start making winning trades. I’ll show you how to do it no matter your level of experience, even if it’s zero!

Keep On Trading,

Mindset Advantage: Ignore The News

Put the news in its place once and for all.

Sure. They’re entertaining. They have a lot to say. And yes, they bring you information.

But when it comes to your trading, those talking heads can cost you a lot of money.

It’s their job to entertain and retain viewers – not give you the entry or exit you really need, let alone an insight that will provide an advantage.

Let’s face it: by the time it’s coming out of their mouth, the market has already responded. They have no idea what’s coming!

So don’t let them whip you into a frenzy. Don’t take the information they provide and place a trade on it. Forget those talking heads!

Futures Trading Dictionary

Word of the Day: Candlestick

One of the most important parts of trading futures is understanding candlesticks. And, no, we aren’t talking about the wax candles your great-great-grandparents used to light their living room. We’re talking about candlestick charts that reveal market price movement.

Bullish Candle

A green candle represents a bullish market. A bullish candle means that the price has increased over a given period. Remember: green means positive price movement.

Bearish Candle

A red candle typically signifies a bearish market. This means that the price has decreased over the period. The market is down. Remember: red means negative price movement.

Market candlesticks serve as excellent indicators of traders’ emotions. With ample practice, you’ll be able to read patterns in trading charts in no time!

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

Leave a Reply

Your email address will not be published.

Stop wondering what direction the markets are headed! Sign up right now to get Josh’s Daily Direction straight to your inbox each morning before the trading day even begins. Best of all – it won’t cost you a dime.