Loading ...No Need to Get Trapped – Place Your Bets with an Exit Plan!
We can all take a position here, short or long and should know very soon whether we are on the right side of the trade, thereby keeping losses minimal IF you stick to a trading plan. You have a plan right?
The monthly HUI shows my line in the sand. If we don’t bounce and stay above this 200 level on a monthly basis then I am out. Ive been long since Dec and accumulating on dips….It wont bother me at all to sell at 190 if needed because the risk/reward is so compelling here to be long.
Look at the monthly CRB chart. You really think these types of levels are where massive bull traps emerge from? This chart, along with WTIC and GOLD monthly charts are at levels that have historically indicated oversold and bottoming conditions are driving my bias from here.
The blue line could be broken in order to form an H&S….would you sell every PM investments anyhow?
I would definitely….we will never know why the prices dropped until after the fact. If a chart structure later emerges that is compelling on the long side then I would re-enter at that point.
Thank you Mark.
I don’t know why but I’m feeling less and less positive on PM .
Great advice and work Mark. Always appreciated. Could bust through $50 oil and blow my theory up in a couple days… We’ll see how this all plays out.
Mark, Great charts an analysis as always.
Thanks guys. Also notice on the CRB chart that each time — 1999, 2001, 2009 — that a significant low was made as confirmed by a STO cross and subsequent monthly candles showing higher highs and higher lows, we never had the kind of counter-move correction/bulltrap/headfake/death move down so many of you are worried about. It simply hasn’t happened. This could be the first time sure, but my money is on the odds.
Great stuff Mark!