Here we go again, another instant replay as Gold, Silver and Platinum consolidate. The uncertainty surrounding the metals continues to have false starts in both directions, failing at resistance and rallying from support.
However, as the metals churn once again the next big move should be lower. The trend remains down, we remain short, until the price action suggests otherwise. Trend trading is about following the price action and direction, which for now is lower.
As a reminder, we are trading the metals and trends can change at any time. Our guide is our proprietary algorithm which only looks at the end of the day. There is no profit in trying to trade intraday volatility, which means we never trade or reverse during the trading day. It’s that simple.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
Recording: Managed Futures using Micro and Mini
Futures – The Next Big Thing