Gold, silver and platinum: decision time | Kitco ...
Trader after trader have always been tortured by market consolidation; today, the precious metals continue to churn in that exact pattern. Consolidation is also known as the greatest time of uncertainty; gold, silver and platinum are all in that phase.
We are trend traders with the idea of trading the direction of least resistance -- as of today, that is short. However, that does not mean we do not emotionally suffer from the same thing as other traders; it is a pain. It does not change the overall direction until the upside resistance is violated.
This morning, gold is charging higher and is up $11.00. Meanwhile, silver and platinum are trying to join without the same strength. Based on the longer trend, we expect the breakout to come to the downside. Based on the current pattern and consolidation range, nothing with reverse until December gold closes above 1900.
No one said trading was easy, but we know that with a solid set of mechanical trading rules, you can survive it all. We will stay short without panic or fear and let our rules and algorithm lead the way.
Futures and Commodities with Andy Hecht and Technomental: Our webinar on Saturday was fantastic, here is the recording
Saturday Recording
2020-11-07 Techno Mental Futures and ETF Recording
