Initially revealed on Sat Nov 16 for members of ElliottWaveTrader.net: Many individuals really fee
Initially revealed on Sat Nov 16 for members of ElliottWaveTrader.net: Many individuals really feel that the metals are too exhausting to commerce. Personally, I view them as a lot simpler to commerce since they’re a reasonably pure sentiment commerce. And, they’ve acted virtually completely inside our expectations of late.
On Friday, considered one of our members identified to me that the GLD fund has seen its largest withdrawal since late 2016. And, as we now know, that was proper earlier than the metals bottomed and started a rally. Whereas we should still see some weak spot over the approaching week (which was additionally the case in 2016 after the withdrawal excessive), I feel we’re getting near beginning the following rally section on this advanced.
It additionally is smart that many have now exited the market. You see, a 3rd wave usually requires a certain quantity of chasing by buyers which causes the parabolic transfer greater we frequently see. And, once I see massive withdrawals from GLD or many individuals turning bearish of the metals advanced, particularly with the construction and technicals suggesting that we’re bottoming out in a pullback/correction, it tells me to prepare for an impending rally as I look in direction of…