Gold, Silver and Platinum have been setting up for a much bigger move. The recent price action has been wild enough to make traders and investors want to pull out their hair. From last Friday’s hard sell off from up 30.00 to yesterday’s whip around the unchanged line.
The metals look to go higher, possibly a significant move. We are long and can only see one level at a time. Making a dramatic prediction is ignorant and is only done to create reaction and action for prospective buyers of a service. All markets work the same and go through the same phases, currently trending higher.
The wild price action we are witnessing is a message from the market that a much bigger move is getting near. Think about it this way – the bulls try and shake the tress trying to get the bears out and the reverse for the bears. This type of action creates a whip in markets that eventually will break out. For now we see that move as being higher.
In all markets price action determines what will happen in the next day, week or months. Keep the two strategies separate, the worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
On Saturday October 30th I will be presenting our part time futures day trading. I would love for you to join me. You can register for this free webinar below.
