The GOLD LEVEL MEMBERSHIP Trades LIVE
during the morning hours with futures instruments each day –
MARKET TEMPERAMENT –
The backdrop of higher lows still holds after a dovish speech from Fed Chair, Jay Powell. Buying pressure continumes to hold but as we stepped into higher levels of resistance, we do see a fade to support in progress. The short term trend is upward, but at resistance, we must be cautious about buying breakouts that sit right at key levels of support. Buyers remain enthusiastic so shorting the highs don’t look promising at the first pass. As we come into these key levels, it is important to cycle through your trades. This means that you look for support to resistance trades and visa versa. As yesterday, we will remain engaged in a large relief bounce within a much larger bearish motion. We can still trade both sides of this, but with caution – particularly as we creep towards key levels of breakdown.
How about finally starting that trading journal?
You should – Here’s an easy way to keep track of your progress