It’s Friday morning, and the metals are once again up overseas somewhat. Pay close attention, this could easily become a truly tradable rally. Yesterday served as a mere pause, perhaps. If this is going to become real, we will see it within the next 3 to 6 business days or so. It’ll be another goodly lift on another big-volume day, and will serve as a confirmation of that which may have gotten kicked-off.
You can open positions here, put close tight mental stop underneath them, and hold on and wait. If we don’t get a confirmation launch after, say, 9 or 10 more business days, it would be best to just get back out of them.
That’s how successful traders play these things. They know why they’re getting in. They know what it is that they are looking and waiting for, and they know the circumstances by which they would decide to get out.
Happy St. Patrick’s Day to all my Irish readers!