This setup is golden…

Good morning, Traders!

The gold futures market (GC) is resetting and preparing for a +1,450 tick rally that could make us a very profitable trade!

Right now, the market is near the up trendline in the daily timeframe. If the current support level holds, we’ll have an opportunity to enter the market and ride the price on the way up to the 1922.4 price point. Read my free article on how to properly draw market trendlines so you can learn to implement this strategy when you trade.

We’ll want to watch the one-hour timeframe closely, as that’s how we’ll know when the market price rebounds and starts to rally back off of support. Once the market pushes through the counter trendline, we’ll be ready to execute our buy-in strategy!

Let’s take a look at the daily and one-hour timeframes for the GC to get the details on this money-making opportunity:Daily Timeframe Analysis

The gold futures market has reached support and a known level of U-turn. Remember that support is the price at which sellers yield the market to buyers, driving the price back up in a bullish rally.DAILY TIMEFRAME

The direction within the daily timeframe is up

1-HR TIMEFRAME

The current direction for the one-hour timeframe is up

THE BOTTOM LINE

The market is about to U-turn off of support and head for another rally

Learn more about the Daily Direction Indicators here…

The NQ daily timeframe chart

The GC is setting up for a +1450 tick rally to 1922.4. If support holds (straight grey line across the middle), the market will U-turn back to an upward trend and give us an opportunity to buy in!

As the GC hits support, we’ll see the price U-turn back into a positive trend. When the price breaks the counter trendline, we’ll want to turn to the one-hour timeframe and start looking for opportunities to buy the market on its way up!

If this trend holds together, we’re looking at a +1450 tick rally to 1922.4.Don’t forget to check out my free resources that explain how tick values work in the futures markets!

One-Hour Timeframe Analysis

The one-hour timeframe reveals that we’re in for a wild ride as we wait for the market to break into the buy zone!

This is a prime example of how the market trades in waves. We expect the GC price to fluctuate up and down as it makes its way back into the buy zone. That’s why we shouldn’t worry too much when we see the market dip within an overall up trend. That’s just how the market works.

Chart the channel

The one-hour GC timeframe shows that the price is working its way back to the buy zone (above the long grey line). The market should push through the counter trendline (short diagonal grey line) and start the +1450 tick rally.

Once the GC pushes back into the buy zone (above the long, diagonal grey line), we’ll wait for it to break the counter trendline (short diagonal line) and start a rally to 1922.4.

Now’s a great time to check out more information on how to enter a market on counter trendline breaks. I have a free resource that explains the entire process here.The Bottom Line

The GC futures market is poised to make a substantial rally to a new high price. The price is set to rebound off support and break through our counter trendline.

Once the rally starts, we can expect a +1450 tick movement toward 1922.4. That means this trade has the potential to make you some serious money. But you won’t make a dime unless you get in right now!

The Bottom Line

We’ll watch the GC’s movement as we prepare to execute our buy-in strategy

Are you missing out on these setups? Are you still trying to figure out how to master futures markets? I’m here to help! Don’t get frustrated trying to do this all alone. Let me show you how to build success as a futures trader today. You’ll be ready to make money with the next big trading opportunity!

Keep On Trading,

Mindset Advantage: Forget About It

Move on with your trading and leave the past where it belongs…. in the past.

It’s a recurring theme. It happens over and over again. You can feel it the second it comes on. The market is going to do ‘it’ – whatever ‘it’ is – again… to you and your account. The flashbacks start pouring in. It’s impossible not to relive it all.

In an instant, a calm Monday morning is now haunted by a trading session ages ago. Just when you thought you would never, ever, ever find yourself in that situation again.

It’s time to move on. Sure, mistakes repeat themselves, but the key to getting past errors and losses of the past is first to embrace them. Own them. Take them as they are. After all they’re yours.Traders Training Session

Understanding Futures Contract Sizes and Tick Values

Understanding Futures Contract Sizes and Tick Values

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

Reader interactions

One Reply to “This setup is golden…”

  1. Hi Josh just wanted to say I feel like you are a great teacher not just someone filling people full of crap to make some money I am kinda da still struggling on a few things like setting trades in automation I still don't have a permanent broker either I did have tradovate I believe it was but at the end of the day I just don't have the money to throw into I've been unemployed for a month the job I'm supposed to be starting any day keeps pushing me out everyday it would be amazing to have a chance at this right now my life would change so much id actually get to spend time with my family.im up half the night reading over everything you have provided for me I can't wait to get in and try it my wife thinks it's a scam as if the stock market doesn't exist I'm so far behind right now I'm not sure when it will be a time I can try this I even tried to get a loan seem not many places give loans to 34 yr old unemployed men doesn't matter how long you was employed but 1 week of being unemployed nah not happening but got to get out and try to make some mot e.g. doordashing not the greatest way to make money but it works if you have any suggestion maybe you know a broker that is under the radar and very cheap or a local loan agency that you could give a good word to or maybe you could sponsor me help me get what I need to get started and be successful and anything you let me use you get back maybe I'm asking to much I mean we don't even no each other but if there was a way to do it while exercising risk management what's there to lose and think about what you would do for me and my family life which in return would change alot of family life because ive made a promise to God if he ever sees fit to change my life in that type of way I would definitely give back and what better way than give someone the knowledge and means to create a better life for there family but I got to go hope you don't read this and delete me from your site

    Reply

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Josh Martinez

Josh Martinez

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