Gold and silver survive selling pressure
Gold, Silver and Platinumhave been setting up for a much bigger move. The recent price action has beenwild enough to make traders and investors want to pull out their hair. Fromlast Friday'shard sell-off from up 30.00 to yesterday's whip around theunchanged line.
The metals look to gohigher, possibly a significant move. We are long and can only see one level ata time. Making a dramatic prediction is ignorant and is only done to createreaction and action for prospective buyers of a service. All markets work thesame and go through the same phases, currently trending higher.
The wild price action weare witnessing is a message from the market that a much bigger move is gettingnear. Think about it this way, the bulls try and shake the trees trying to getthe bears out and the reverse for the bears. This type of action creates a whipin markets that eventually will break out. For now, we see that move as beinghigher.
In all markets, priceaction determines what will happen in the next day, week or months. Keep thetwo strategies separate. The worst trade anyone can make is turning a tradeinto an investment hoping for a way out. Traders must learn to take theirlosses and move on to the next trade.
Patience, discipline, andmoney management always win the day. Let the map of the markets show you theway.
On Saturday, October30th, I will be presenting our part-time futures day trading. I would love foryou to join me. You can register for this free webinar below.
2021-10-30Part Time Futures Day Trading Registration
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