GC Outlook
After reviewing the chart for GC Futures, I believe there is prospect to the long-side. Based on the way I frame the markets, I would need to see a break (failure) of the opposing 61.8% level at around 1600 and then see a measured move long at a 50% level. Obviously smaller time-frames would need to confirm this at the time to be able to enter into any trade. Targets are denoted on the chart if the conditions become true.
I do not post entries, exits etc on my charts because I believe each and every one of you will have a different way of entering into a market and exiting or managing positions. I have my own way of entering into trades and managing trades, and my techniques are rather different to most.
Anyway, I have a long bias for Gold based on the longer-term outlook. That is not to say there will not be day-trading opportunities on either direction in the mean time. If the longer-term conditions do play out, Gold could be seeing a break of all time highs in time :).
I do not post entries, exits etc on my charts because I believe each and every one of you will have a different way of entering into a market and exiting or managing positions. I have my own way of entering into trades and managing trades, and my techniques are rather different to most.
Anyway, I have a long bias for Gold based on the longer-term outlook. That is not to say there will not be day-trading opportunities on either direction in the mean time. If the longer-term conditions do play out, Gold could be seeing a break of all time highs in time :).
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