GCG12 has currently opened inside the persistence zone on both the Yearly, and Quarterly Profiles. We have no control bias on either of these 2 profiles currently the bulls and the bears are fighting for control of the market. Expect a spike in volatility until GCG12 is able to breakout of the Yearly and Quarterly PZ's.
The top of the PZ on the Yearly Profile is 1685.40 this will be a key resistance for GCG12 if it is going to be able to re-establish the uptrend that broke in November of 2011. If GCG12 cannot break above the top of the PZ on the Yearly Profile and the bulls fail to take control of the market on the year, start taking sell signals and look for GCG12 to start reverting to the Zone-Trader Pivot on the Yearly at 1389.
Our focus right now is on the Quarterly Profile, which is currently attempting to make a bullish breakout.
GCG12 traded slightly above MR1 at 1662.90 today and ran into some selling pressure. GCG12 will have to make a Bullish Breakout by making a candle body close above the midpoint between MR1 and MR2 at 1684.30 in order to continue up-trending.
GCG12 also opened inside the Persistence Zone on the Quarter and the bulls and bears are fighting for control of the market on this profile as well. Again expect increase in volatility until one of them gains
control.
If GCG12 makes new lows taking out the low of the prior day on the daily candles prior to establishing a Bullish Breakout, take all sell signals and look for a move towards MS1 at 1593.80. The current move withing the Zone-Trader Philosophy that is occurring right now on the Quarterly Profile is critical to the future direction of this market.
Again GCG12 is attempting to make a Bullish Breakout. If GCG12 can establish a Bullish Breakout then the Bulls will have a great chance of taking control of the market on the year and re-establishing the uptrend that was broken in November 2011. If GCG12 fails to make a Bullish Breakout on the Quarter then the Bears will have a good chance of taking control of the market on both the Quarterly and Yearly Profiles and GCG12 should continue the current sell-off with prices attempting to reverse to the Zone-Trader Pivot on the Yearly Profile at 1389.00.
ALERT; We will keep a close watch on the Monthly and Weekly Profiles analyzing the Zone-Trader Philosophy upon them in attempt to get a jump on the entry and get positioned for the future move that will be derived from the Quarterly Profile. The Monthly will tip us off on whether or not the Quarterly will be able to make a Bullish Breakout. I will try to notify via blog as quickly as live trading permits. You can take day-trades on GCG12 if that is your style of trade, but patience normally pays off in trading auction based markets and if you wait for the Quarterly to tell us whether to buy or to sell, you will have a much higher probability of winning and catching a much larger move.
The top of the PZ on the Yearly Profile is 1685.40 this will be a key resistance for GCG12 if it is going to be able to re-establish the uptrend that broke in November of 2011. If GCG12 cannot break above the top of the PZ on the Yearly Profile and the bulls fail to take control of the market on the year, start taking sell signals and look for GCG12 to start reverting to the Zone-Trader Pivot on the Yearly at 1389.
Our focus right now is on the Quarterly Profile, which is currently attempting to make a bullish breakout.
GCG12 traded slightly above MR1 at 1662.90 today and ran into some selling pressure. GCG12 will have to make a Bullish Breakout by making a candle body close above the midpoint between MR1 and MR2 at 1684.30 in order to continue up-trending.
GCG12 also opened inside the Persistence Zone on the Quarter and the bulls and bears are fighting for control of the market on this profile as well. Again expect increase in volatility until one of them gains
control.
If GCG12 makes new lows taking out the low of the prior day on the daily candles prior to establishing a Bullish Breakout, take all sell signals and look for a move towards MS1 at 1593.80. The current move withing the Zone-Trader Philosophy that is occurring right now on the Quarterly Profile is critical to the future direction of this market.
Again GCG12 is attempting to make a Bullish Breakout. If GCG12 can establish a Bullish Breakout then the Bulls will have a great chance of taking control of the market on the year and re-establishing the uptrend that was broken in November 2011. If GCG12 fails to make a Bullish Breakout on the Quarter then the Bears will have a good chance of taking control of the market on both the Quarterly and Yearly Profiles and GCG12 should continue the current sell-off with prices attempting to reverse to the Zone-Trader Pivot on the Yearly Profile at 1389.00.
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