With everything going on in the world right now — the pandemic, unemployment and the Texas winter storm — we decided to turn to Wall Street’s natural safe haven: gold.
And it’s a good thing we did since we noticed on the daily timeframe there’s a bullish trade opportunity to the tune of 900 ticks coming our way fast.
Now remember, a full contract on gold futures means every tick is valued at $10. With a micro contract, every tick is worth $1. So depending on how much you’re willing to risk, you’re looking at a $9,000 or $900 gain if this trade works out in our favor.
We generally like sticking with micro contracts since they’re a tenth of the average investment of a full contract. This is a great way to manage risk and a strategic way to trade if you’re looking to have success over a long period of time.
Right now, gold looks to be trading in a sideways movement and has been consolidating since September 2020. That means there’s going to be a breakout very soon…
P.S. One former hedge fund trader just pulled back the curtain on a new method that only requires you to participate in the market right before it closes.
You see, from the time the market opens until about 3 p.m. EST, Wall Street has the upper hand. But once 3 o’clock rolls around, the big funds on Wall Street start bleeding cash… which sends certain stocks crashing lower.