Gold and silver hit a speed bump
Not much has changed withgold, silver and platinum. They are all in uptrends and are ready to run. Yes,they had a rough Tuesday and are lower this morning; however, the overallpattern has not changed. There is no question that they could reverse to shortagain and will at some point.
Unfortunately, traders andinvestors want instant gratification and have no understanding of how marketswork. The minute the metals were lower on Tuesday, out came the manipulationgroup screaming the market is fixed. "They" don't want the markets to gohigher, so "they" are selling. It is comical listening to those that have nounderstanding of how a market works.
Gold, silver and platinum areno different than any market; they run too far in one direction and then thereis some retracement. This has been a part of markets for 1000s of years, buyerspush too far, and sellers come in; the same goes when they sell too hard. Thebottom line, the trend is higher until proven otherwise and bumps in the roadwill appear. Let the markets and price action guide you.
In all markets, price actiondetermines what will happen in the next day, week, or month. Keep the twostrategies separate. The worst trade anyone can make is turning a trade into aninvestment hoping for a way out. Traders must learn to take their losses andmove on to the next trade.
Patience, discipline, andmoney management always win the day. Let the map of the markets show you theway.
On Saturday, Oct. 30, I willbe presenting our part-time futures day trading. I would love for you to joinme. You can register for this free webinar below.
2021-10-30 Part-Time Futures Day Trading Registration
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