The GC one hour time frame in an up Channel.
The market is near the top of the channel where
one of two things could take place. 1) The
market breaks above the channel and creates
a bullish trend. 2) The market falls back towards
the bottom of the channel and gives another
buying idea.
Entry: Counter trend line break bullish either
above the top of the channel or near the bottom
of the channel.
STOP: In the sell zone.
LIMIT: If entry is near the bottom of the
channel. The limit will be just under the top
of the channel. If the entry is above the
channel. The limit will be the next Fibonacci
extension above the channel.
As long as the market stays above the bottom
of the channel. It will be a good idea to turn
to the five minute time frame and to look for
long ideas towards the one hour future
resistance price point 1864.6 about +648 ticks
away.
The market is near the top of the channel where
one of two things could take place. 1) The
market breaks above the channel and creates
a bullish trend. 2) The market falls back towards
the bottom of the channel and gives another
buying idea.
Entry: Counter trend line break bullish either
above the top of the channel or near the bottom
of the channel.
STOP: In the sell zone.
LIMIT: If entry is near the bottom of the
channel. The limit will be just under the top
of the channel. If the entry is above the
channel. The limit will be the next Fibonacci
extension above the channel.
As long as the market stays above the bottom
of the channel. It will be a good idea to turn
to the five minute time frame and to look for
long ideas towards the one hour future
resistance price point 1864.6 about +648 ticks
away.
