Will gold continue to pay out? What you need to know…

Good morning, Traders!

It’s time to take another look at gold futures (GC) as we make our way through the trading week.

Right now, the GC is still bullish within the daily timeframe. And the one-hour timeframe direction remains up as well.

While we could see a sell-off in the one-hour timeframe, it would be short-term and temporary. We shouldn’t let that scare us from buying the market when an opportunity presents itself!

Remember that investors like to use gold as a hedge against market uncertainty. There’s a lot of things going on in the economy right now that have some investors worried. We can take advantage of that by keeping an eye on gold futures as the market continues to rise!

Ready to get started with the setup? Let’s jump to the charts!Daily Timeframe Analysis

The daily timeframe for the GC market is still holding onto a bullish rally. The next up Fibonacci fulfillment is +379 ticks away at the 1922.4 price point.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 GC market’s U-turn direction is up

Chart the channel

The daily timeframe for the GC remains bullish, though we could see a temporary price drop (down yellow line) before the next rally (long green arrows)

There is the possibility that the GC could sell-off at this point to test the daily resistance level. Remember: Resistance is a price point in the market where buyers stop buying and sellers take control, driving the price back down. We shouldn’t worry, though. The sell-off would be temporary and followed by another rally!One-Hour Timeframe Analysis

As we turn to the one-hour timeframe for GC, the data reveals that we’re waiting for the market to break a counter trendline (short, diagonal grey lines at the top of the below chart). That tells us the price is starting to enter the buy zone. And once we’re in the buy zone, we can work on implementing our entry strategy.

Chart the channel

The one-hour GC timeframe reveals that the price is still moving up. We’re waiting on the price to break through the counter trendline and start another bullish rally (long green arrow)

While the market remains in the buy zone, we’ll want to keep an eye on our shorter timeframe charts to help us find positions in the GC. This is how we make money! We buy at a low price in the buy zone and, once it’s time to sell, we make a profit from selling at a higher price.The Bottom Line

The daily timeframe for the GC clearly shows a bullish trend right now. While we might see a sell-off develop, it’s only temporary and will be followed by a rally. That’s because markets trade in waves, testing resistance and support on the way to higher prices.

The Bottom Line

The direction for the GC futures market is up. We’ll watch our timeframe charts to find the best possible entries and make money on the way to the top!

You now have what you need to start trading the GC futures market, so why hesitate? Now’s your chance to start making money with 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: Execute

In the end, trading is about execution. A detached, matter-of-fact execution that takes into account market data. It’s those darn emotions that get in the way.

What if you were able to execute every trade like you were cleaning up after a great meal with friends or family? 

Instead of each entry or exit being the heart-pounding, drama filled moment that it is (for many) – remove your emotions and treat it as though it just needs to be done.

Like taking out the trash, you don’t think about it. You don’t shed any tears over the 5 day old ravioli or hamburger buns that you’re throwing away. Why waste another second on that trade?

Good or bad. Simply execute. And free yourself to see the market from a different point of view.Traders Training Session

How-to Fibonacci retracement

How-to Fibonacci Retracement Tutorial

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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