What Are We Waiting For?

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.

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.