Gold, Silver and Platinum are all positioned and ready to go to the prom. However, it looks like their date is going to stand them up. This is what markets in consolidation feel like: hopeless. This type of action is another reason we trade mechanically without emotion.
Our algorithms are long across the board, we are expecting a big rally. Unfortunately, the metals haven’t been able to get out of the starting gate. With the Kentucky Derby tomorrow Gold, Silver and Platinum are the early morning favorites to rally. There are no guarantees, but we remain long.
Trading and investing are not easy and are filled with emotions. This is just another reason we take our opinions and emotions out of the equation. The facts are simple, as of right now the trend is higher, however metals are consolidating. We have placed our bets to the long side and will sit back and relax until the trend changes or they go our way. It’s that simple.