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PUBLISHED: July 8, 2021
Dolly Parton once sang the song, ‘Here You Come Again.’ Gold and Silver are singing that tune for the third time this week. Once again Gold and Silver are pushing up to the reversal levels and could finally push through, reversing traders from short to long.
The past three days, Gold and Silver have failed late in the day, keeping us on the short side of the market. The price action has been challenging which is why consolidation is known as the greatest time of uncertainty. Today should go a long way in determining the next big move.
Trading takes a massive amount of patience and discipline. You must always recognize that deciding to not make a trade could be the best trade at that time. Observation of markets is crucial; pattern recognition comes from watching. Leave your opinions at the door and follow the message of the markets.
Patience, discipline, and money management always win the day.
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Trading securities and other financial instruments can involve high risk and the loss of all amounts invested. Trading securities and other financial instruments on margin or with other forms of leverage or borrowings can result in losses in excess of the amount invested. Investment related information provided may not be appropriate for many investors, and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon, or risk tolerance. Such information is for general information purposes only. None of such information is meant to constitute investment or financial advice.
