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What Are We Waiting For?

1/10/2020

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I know you are wondering about the metals trade, and really that is all that looks tradeable to me.  I am still very bullish the metals and think we will be making another leg up soon.  Usually the price needs to consolidate before this happens, so I am not trying to rush.  

I have a range to buy should the price move lower or should the price move higher.  If the price drops enough to reach oversold on the 3 day RSI, then I think we will be low enough to begin a position.  If the price begins moving on up without a prolonged consolidation, then we should probably begin a position when we get a swing low at 1562.4.   If we get the drop first, then we could add a second position once we get the swing low.  Either way we will be starting into a position for a move that will probably take gold to 1700.  At $100 per point, one position will make a lot of money.  You might also consider buying silver at these points along the way.
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Be preparing to trade this now.  I want this to be something you think about in advance so that this is a well thought out decision and not an emotional decision.  Have a plan in your mind how many positions you would like to trade and if you also want the silver.  If this is creating difficulty for you, then just buy one.  I am giving you enough time to think about it so we won't be in a panic once the time comes.
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Steve Wade and Tyler Wade of Wade Assurance are associated persons for AgDairy LLC.

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The risk of loss in trading commodity futures contracts can be substantial.  You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

Wade Assurance is an equal opportunity insurance provider.
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