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Calling GOLD's Pre-Market Session Low LIVE

Writer: Anthony SpecialeAnthony Speciale
Jul 9, 20243 min read
Speciale Analysis

Hey Trader,


Calling GOLD's Pre-Market Session Low LIVE



Anthony Speciale here with Hawkeye Traders. I hope everyone is having a wonderful day.


Today, I want to share some valuable insights from our live trading session this morning, focusing on the gold futures market.


This detailed analysis will provide you with actionable knowledge that you can incorporate into your own trading strategies.


Understanding the Market Setup


This morning, I gathered LIVE with some traders at 8:00 a.m. to analyze the gold futures market using a three-minute chart, where each candle represents three minutes of price action.


Initially, we noticed the market plateauing at an upper resistance level, struggling to make a significant push higher.


This led to a series of price pullbacks and a hard time breaking through the current level.


Key Moment: The Hawkeye Wide Bar


During the session, we identified a crucial moment marked by a Hawkeye Wide Bar.


This bar signaled a significant increase in selling volume.


As price declined, the volume trended upwards, culminating in an ultra-high volume radar dot.


Despite this selling pressure, the market failed to close that candle within the bottom 10% of the wide bar, indicating potential support and a likely reversal.


chart
Source: TradingView

Analyzing the Reversal


From the close of this significant candle, the market rallied 144 ticks leading up to the 10:00 a.m. economic statements by Fed Chair Powell and Treasury Secretary Janet Yellen.


This reversal move was a key opportunity for traders who recognized the setup.


Trading Strategy Insights


The critical lesson here is understanding how to identify potential lows using volume and price action analysis.


While trading with the trend is essential for beginners, seasoned traders can benefit significantly from spotting reversal opportunities.


These moves, though riskier, often yield the highest returns.


Risk and Reward


For this particular trade, the potential risk was about 14 ticks, with a reward of 144 ticks—offering a 10:1 risk-to-reward ratio.


Mastering these setups requires understanding the market dynamics and using tools like Hawkeye Volume Indicators, which simplify the process by highlighting key volume and price interactions.


Your Path Forward


To help you master these techniques, we offer comprehensive training that delves deeper into identifying market tops and bottoms.


This training includes the Hawkeye Volume Mastery Series, designed to equip you with the skills to spot these opportunities across various market conditions and time frames.


In the webinar, you will:


  • Learn how to identify volume climaxes and potential market reversals.

  • Understand the importance of multi-timeframe analysis.

  • Discover how to use the Hawkeye indicators effectively on various trading platforms, including TradeStation, TradingView, NinjaTrader, and MetaTrader.

  • Gain access to the Hawkeye Volume Mastery series, a comprehensive library designed to enhance your trading skills.


Trading with a clear understanding of volume and price action, supported by reliable indicators, can give you a significant edge in the market.


By focusing on these core principles, you can develop a robust trade plan and improve your overall trading performance.


If you're ready to take your trading to the next level, click here to join the training webinar.


Bring a notebook, jot down your questions, and reach out to us with any inquiries.


Let's get the Hawkeye Volume Indicators set up on your charts and you access to the Hawkeye Volume Mastery Library so we can start mastering the market together!


We look forward to helping you revolutionize your trading journey.


Click Here to join the webinar and take the first step towards a more straightforward and effective trading strategy.


Thank you for being here, and I look forward to seeing you in the next video. God Bless!



Happy Trading,

Anthony Speciale

Speciale Analysis



Anthony and Anna Speciale

About the Author:

Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.



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