Each and every week, I share what I see as one of my top trade ideas for the futures contacts markets.
And to invite global comments, I provide the core chart and discussion on my TradingView page right here.
Gold continues to provide trading opportunities both for shorter-term trades as well as for longer-term position trades.
And today, I see gold via futures contract trading (GC) as providing one of my best trade ideas for this week.
The Gold Futures (GC) Trade Setup
Here’s how the chart is setting up my trade idea for this week for the gold futures contract (GC)…
And here’s how I see the trade setting up for this week’s idea…
The gold futures contract (GC) one hour time frame is in an up trend. The market is in the buy zone making higher highs and higher lows.
Entry: Counter trend line break bullish in the buy zone.
As long as the market stays in the buy zone, it will be a good idea to turn to the five minute time frame and to look for Tunnel Trader long / Destination Trader long ideas towards the Fibonacci limit.
The Bottom Line
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Keep on trading,
P.S. Gold isn’t the only alternative asset proving trading opportunities for gains. Digital currencies are also setting up profitable trades that could provide an alternative income source for traders armed with the right information.