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Good morning, Traders! Gold futures (GC) are finally starting to break into the buy zone and could make a +1471 tick push to 1922.4! After seeing the market dip a bit after a consolidation range (sideways movement), it's finally starting to push through the counter trendline and into an area where we can prepare to buy into the market.
Even with the information from this setup, It can be tricky to figure out when exactly to buy in. Be sure to read my article on how to enter the market on a counter trendline break!
For the long-term, the market will remain up as it fulfills the daily up Fibonacci extension, giving us plenty of opportunities to buy the market and make a profit.
Now let's review the timeframe charts to see how we can prepare to trade the GC market: The GC is now in a long-term uptrend as the market moves toward the up Fibonacci extension of 1922.4. As the market pushes into the buy zone, there's an opportunity for a +1471 tick movement.  The daily timeframe shows that the GC has moved into the buy zone
The GC one-hour timeframe confirms an overall up direction
 The GC has U-turned off and is moving upward
 The GC has pushed into the buy zone according to the daily timeframe. We'll see the price continue to make positive gains on its way to the top of the channel (top grey line) Now is the time to look at buying the GC as the price is at a low point within the buy zone. The sooner we move, the better buying price we get. That gives us more room to make money as the market continues its upward swing. Now let's turn to the one-hour timeline and discuss our entry possibilities:
After getting stuck in a consolidation range (the market was trading sideways for an extended period of time), the GC finally broke the down trendline and entered the buy zone.  The GC one-hour timeframe confirms that the market is in the buy zone. The price will move in waves as it heads towards the next Fibonacci extension This could mean that the buyers are taking control and pushing the market upward. Our best strategy for the moment is to wait for the market to break a counter trendline and push bullish within the buy zone. If/when that happens, we'll be ready to buy! Both the long-term and short-term directions for the GC are up. We're waiting for the market to break through a counter trendline within the one-hour buy zone. Once that happens, we'll have opportunities to execute our buy-in strategy.
If you don't have a strategy for buying into a market at the proper time, check out my free resources here to learn how to develop one! The long-term and short-term directions for the GC are both up! You have the information you need to trade the GC market, so what's your excuse for not making it happen? There's no reason why you shouldn't get started today. Even if you have questions, I have the resources to help you find the answers. Bottom line: today is the day to start building your trading empire! Keep On Trading,  It's not the market. It's not your indicator. It's TRADING. Let it go. The first step toward consistent profits comes when you accept the reality that losses will occur. Look at the past, but don't stare. Accept what's happened and move on. Target tighter entries. Get the heck out of those losers you're hanging on to. Accept. And start to enjoy trading.
Stay tuned for my next edition of Josh's Daily Direction.
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