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Keeping an eye on the gold market…

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Good morning, Traders!

Gold futures (GC) are experiencing a resurgence, as the market has pushed bullish over the last day only to drop thanks to a bearish correction. But my analysis shows that the GC’s overall direction is still up!

I’ve said this before because it’s worth repeating: don’t let a price drop scare you out of the market! With the GC, the price drop gives us another opportunity to buy the market at a low price within the buy zone. 

So long as the market stays within the buy zone, we’ll use our timeframe charts to watch for chances to execute our entry strategy. And to learn more about how your entry strategy should look, check out my free video that discusses it!

As always, let’s jump into the timeframe analysis to see how the GC is moving:Daily Timeframe Analysis

The GC daily timeframe clearly reveals that the market is in an up trend, though that recent bearish correction is also evident. But as you can see, the market is still in the buy zone and at a lower price compared to the daily up Fibonacci extension (to learn more about Fibonacci extensions, read this.DAILY TIMEFRAME

The direction within the daily timeframe is up for GC

1-HR TIMEFRAME

The short-term direction of the GC is up

THE BOTTOM LINE

The GC remains positive despite an earlier bearish turn

Learn more about the Daily Direction Indicators here…

Daily timeframe

The overall direction for the GC remains positive despite an earlier bearish turn

The data for the GC points to the market turning back to a higher price as buyers regain control and push it back to a bullish rally. When that happens, we’ll want to follow along in the one-hour timeframe and see how we can buy the GC and make money!

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One-Hour Timeframe Analysis

Turning to the one-hour timeframe, we can see how that bearish turn really dipped the price down in the GC. I know that it can get a little nerve-racking when you see this happen live while you’re in a trade, but it’s best to keep your emotions in check when something like this occurs.

When we trade, we expect these sorts of events. While they take many traders by surprise, my strategy prepares you for them. And part of the strategy includes keeping your emotions under control!

One-hour timeframe

While the GC is trading sideways, it’s still in the buy zone and the short-term direction remains up

So long as the GC stays within the buy zone, the short-term direction for the market remains up. We’ll use the one-hour timeframe to watch for buying opportunities as the market continues to fulfill the Fibonacci extension and move to a higher price.The Bottom Line

There are still golden opportunities to make money from gold futures right now! Don’t let the wave movement of the market make you nervous. Utilize the timeframe charts to guide you as you prepare to trade the GC. And remember that the only way to grow your trading account is by taking action!

We’ll want to keep an eye on our timeframe charts so we can make sure we get our entries right for the GC. It’s easy to mess up a trade even when it looks like everything is working out perfectly. That’s why you’ll want to follow me as I show you how to use the right tools and strategies to make winning trades in the futures market!

The Bottom Line

The overall direction for the GC is up and there’s still time to enter the market at a low price in the buy zone

As you watch the GC continue its rally, now is the time to get the tools you need to become a successful futures trader. And I’m here to help you realize your money-making potential in futures. Just follow along as I reveal the crucial aspects of my trading strategy that will allow you to become a profitable futures trader!

Keep On Trading,

Mindset Advantage: Breathe

If you’re not breathing, you’re not focused. If you’re not focused, you can’t see the market. Opportunities slide by in an instant. Hazards reveal themselves only when it’s too late.

You need to breathe. Breathing exercises have proven to reduce stress and increase focus.

Sure, you’re already breathing if you read this. But when you trade… you need a breathing regimen. Whatever it is: Through your nose, out your mouth counting to 10 or 100. Find a method and routine that works for you.

You’ll find balance, clarity and focus when you trade. Your heart rate will come down and you’ll just feel better.

Try it. And enjoy your trading.Traders Training Session

Understanding Trading Margin and Managing Losing Trades

Understanding Trading Margin and Managing Losing Trades

The post Keeping an eye on the gold market… appeared first on Josh Daily Direction.

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