GC progressing in the 3d criteria long setup on the (much) higher time frame.
You can make the argument that you would have stopped yourself out when the weekly fast line ticked down, resulting in a $9.80/contract loss. However, the next week you got another trigger to enter which saw the $48.80 primary target hit today.
An important lesson in HG regarding this 3d criteria setup and to be cautious of a potential roll-over. We recently saw in Copper how price got caught up in the 20-period MA and rolled over.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.