GC unlikely to be great for intraday trades probably at least until the middle of the week.
It's right in the middle of a triangle consolidation. Expecting it to tag the bottom side then swing back up. I would not be surprised if it tagged the top again 1st since it's in a choppy triangle.
Once it tags an edge of the triangle then I will be aggressive during intraday trades to hold positions in the direction back to the middle of the triangle.
I expect that each time it tags an edge of the triangle it will maybe give one good trend day connecting back to the center then it will be something to avoid again because it will get choppy.
TDLR: wait for it to tag the triangle, wait for one day of confirmation that it reversed then you have probably one good trend day for day trades. Avoid everything else until it breaks out of the triangle.
For instance the recent c reversal, after the 1st green day you had one good solid green trend day to be aggressively long during the day then it got choppy again.
PS: The overall larger trend is up so trading from the bottom of the triangle to the top will be easier than back down. We're headed to the bottom of the triangle at the moment so it's going to be choppy for a few days.
It's right in the middle of a triangle consolidation. Expecting it to tag the bottom side then swing back up. I would not be surprised if it tagged the top again 1st since it's in a choppy triangle.
Once it tags an edge of the triangle then I will be aggressive during intraday trades to hold positions in the direction back to the middle of the triangle.
I expect that each time it tags an edge of the triangle it will maybe give one good trend day connecting back to the center then it will be something to avoid again because it will get choppy.
TDLR: wait for it to tag the triangle, wait for one day of confirmation that it reversed then you have probably one good trend day for day trades. Avoid everything else until it breaks out of the triangle.
For instance the recent c reversal, after the 1st green day you had one good solid green trend day to be aggressively long during the day then it got choppy again.
PS: The overall larger trend is up so trading from the bottom of the triangle to the top will be easier than back down. We're headed to the bottom of the triangle at the moment so it's going to be choppy for a few days.