Gold, Silver and Platinum had solid rallies on Monday as they attempt to reverse trends. Gold is the nearest to changing with Silver still looking for a bottom. We all know that close is not absolute, keeping us short Gold for at least another day.
You must remember, we don’t have an opinion, we trade the algorithm. The pattern and the math suggest the trend in all metals is lower. When that changes, we will change. It’s opinions and lack of self-control that get traders and investors into trouble.
Trading and investing are an emotional business; those that stay even keel and quit the manipulation talk have a chance for great success. Those that continue to scream those markets are fixed or manipulated will always struggle. Follow the price action, trade the pattern and you will never miss a big move.
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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