Happy Tuesday, Daily Direction readers!
Today we’re actively looking for opportunities to trade gold futures (GC)! Both the long-term and short-term directions are up for this market, meaning we’re following our timeframe charts and looking for opportunities to buy the GC.
The daily timeframe is in an up Fibonacci extension, meaning the market is in a position to give us long opportunities. Within the one-hour timeframe, the GC broke the counter trendline and is moving bullish through the buy zone.
As long as the market stays in the buy zone, we’ll keep looking for chances to buy the GC at low prices as it makes its way toward the next price limit.
Daily Timeframe Analysis
Looking at the daily timeframe for the GC, we see that the market pushed through the old down trendline and pushed into the buy zone. That means we’re now actively looking for long buy-in opportunities for this market.
So long as the market stays within the buy-zone, we can turn to the one-hour timeframe to set up a strategy to trade the GC for profit! We could see a +1,000 tick movement for the daily up Fibonacci.
The long-term direction is up for the GC
The short-term direction of the GC is up
The GC is moving through the buy zone
Within the daily timeframe, the GC has pushed above the old down trendline and into the buy zone
Remember that we utilize our trendlines to accurately pinpoint when we should enter a trade for specific markets. Without those trendlines, we wouldn’t have the data needed to make such predictions. That’s why drawing trendlines accurately is so important.
One-Hour Timeframe Analysis
In the one-hour timeframe, the GC broke the counter trendline, entered the buy zone, and is now rocketing up toward our limit of 1791.2!
So long as the market stays within this current trend, we’ll search for buying ideas within the one-hour timeframe. We’ll apply our strategy to this current setup and prepare to ride the market to a new high price!
The GC broke the counter trendline and is rocketing toward our next point of resistance!
And if you’re trying to figure out what strategy to use for futures trading, be sure to check out what I have to offer. It’s the only way to take what I provide in the Daily Direction and apply it to real-world trading!
The Bottom Line
Both the long-term and short-term directions for the GC are up as the market moves bullish through the buy zone.
We’re actively searching for buying opportunities for this market, so we need to watch our timeframe charts closely!
The GC is moving bullish through the buy zone, giving us a chance to search for buying opportunities within the market
If you’re already using one of my systems to trade, you can now apply this information to the GC market. If not, it’s time you jumped in and started working toward more profitable trades. There’s no reason why you can’t get started now!
One last thing: you need to check out this strategy that can put you on the winning side of losing trades. I know it sounds crazy, but it makes total sense once you understand it! Here’s how to learn more.
Keep On Trading,
Mindset Advantage: Balance Is Key
When it comes to your mindset for trading, you’ll find that your ability to cope with the markets, bad trades, good trades – whatever – has more to do with how you spend your time outside of trading. More specifically, how much balance you have.
In fact, of your total state of readiness 10% may have to do with charts and price levels. The other 90% has to do with how rested you are. How focused you are. How happy you are.
Find a balance that works for you and begin the path towards happy 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.