The metals have seen some volatility during the last few days like the rest of the markets. The trading ranges have widened, which just opens the door for a bigger selloff.
After the heavy selling pressure overnight Sunday and the subsequent bounce, they have now indicated a dead cat bounce in a downtrend more than a reversal to the upside. This rally should be considered a selling opportunity should gold reach $1,860 and silver $26.00. platinum remains in an uptrend and has bounced from support.
If you have been watching the patterns and the price action, the signals are obvious, the trend is down. When trend trading, all actions should be based on the prevailing trend. In other words, until the trend reverses, which it will at some point, we are sellers.
Remember, mechanical algorithmic trend trading leaves no room for interpretation of the rules leaving us short Gold and Silver until that trend changes. Our methods are correct 66% of the time, which leads to long term gains without news, opinions, or emotions.
Here is the recording of Options Training Session 2 – The Next Step. We have also included a registration link for session 3 on Saturday Jan. 23 at noon est.
2021-01-16 Recording: Options Training Session 2
2021-01-16 Options Training Session 3 Register here
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
