Gold, Silver and Platinum appear to be on the launching pad ready to blastoff to the upside. All three are pushing through their resistance levels, making a run to the upside a high probability. The pattern should start and has become increasing bullish.
We must remember that nothing in trading is 100%, but all signs point higher. The next major levels to watch are Gold 1835 December futures, Silver 25 December Futures and Platinum 1100 January futures. Those levels are resistance that could slow this rally but not stop it.
The current bullish conditions and price action only influences traders; investors are playing a much longer time frame. Statistically metals rally over time, which is why we warn investors to not worry about the day-to-day action. For now we are long as investors and traders.
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
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