Focus On Bigger Picture

As it usually happens, when the market sentiment becomes so bad in the metals complex, even our own members argue with me about the count, and how wrong I am about my perspective.  However, this is exactly what happens each and every time, and each time has led to a 20%+ rally just around the corner.

But, at the end of the day, this is not about right or wrong in this region.   This region is ONLY about a low risk opportunity.  Nothing more, and nothing less.

We have a VERY defined risk for a potential set up on a 75% rally.  The downside is VERY defined.  THAT is what you as a trader/investor should be focused upon.  The risk vs. reward in this region what you have to be focusing upon. 

So, while I can certainly be wrong, as I am human, and it is not possible for me to always be right, the market is providing you with a relatively low risk opportunity.  Everyone asks us to point them out, but when we do, many argue with us because sentiment for the potential is in the toilet.

So, I feel the need to post this tonight to at least have you focus on the low risk opportunity in this region.  And, while I still think there is a bit more downside to be seen in the coming days, PLEASE focus on the bigger picture right now.  IF we hold the Dec 2016 lows, the upside is huge.  If the lows break, then you can stop out, as that puts a huge dent in the bullish perspective off the 2015 lows. Again, this is not rocket science in this region.

Have a good night. 

GDXdaily
GDXdaily
Avi Gilburt is founder of ElliottWaveTrader.net.