Alert: Major Buy Levels On Gold & Silver As Epic Flush Continues - Here Is My Plan

Hey folks welcome to verified investing dot com my name is Gareth Soloway here with a deep dive into the precious metals gold and silver mainly we'll look at GDX as well as again we are seeing the price of silver now only a dollar fifty away from the target that I gave you when we were north of a hundred dollars on silver I said it's going back to fifty four if it breaks fifty four it's going to fifty if it breaks fifty forty six my plan here and I'm giving you my game plan my game plan is to buy a little bit it appears to fifty four add it fifty and add it forty six building a core position essentially dollar cost averaging as there are multiple major levels down there then I'll look for at least a twenty maybe thirty percent bounce off of that level on silver sending us back up we'll show you or I'll show you where I expect the bounce to come in and how high it will go we'll look at gold as well gold is trying to break key support if it does thirty five to thirty six hundred is very likely again I'll probably start a little higher than that just because I want to get some skin in the game but again you have to understand how the markets work here when everyone is bullish the top is probably being formed now as we see people starting to get panicky over the precious metals that's where we can see an actual bottom a viable bottom come into play so I'm getting excited here folks I mean this is what I love is the levels how the charts guide us it's why I teach how to read the charts because it's not perfect but at least it makes me have the probabilities and odds in my favor let's go into the silver chart here guys take a look here's your silver chart again notice on the chart breaking it down I want to show you this this was the signal when I went out and called that high pivot on silver it actually did go higher after my alert but this is what we call a topping tail a topping tail is a long wick on top with a close in the lower twenty five percent from the low of the candle to the high of the candle right so closed in the lower twenty five now the way topping tails work in technical analysis is that as you rally up you can go above that high of the tail as long as you don't get a daily close above that high so the high here was one seventeen seventy or so notice we went above that touching a hundred and twenty or so on silver but it never had a daily close therefore the structure of that is a bearish indicator remained fully intact and again so yes it absolutely went a little bit higher here than what I thought it could do but it never negated my bear signal then we got the massive damage done by the flush this was a classic bear flag I said it was going to roll over came down hit double bottom right here bounced again we came up we created this to create our wedge pattern structure and then we came down now notice one hit two hits three hits you almost never break on the first three hits of a trend line it's usually on the fourth or after this was your fourth and it broke and I told you guys it was going lower and it broke to the downside then we did a classic retrace and now we're coming down to that level that I said we would come to fifty four as first support second support see this little structure here this little low pullback that becomes second support which is at fifty dollars right there or a pierce of fifty and then the big level the big kahuna if it ever gets there I don't know if it will but would be forty six right here so again this is again if we look at this I start nibbling right here and amazing amazing right I mean people made so much fun of me you know when I said hey I'm not buying till fifty four when it was a hundred dollars when it was eighty when it was seventy when it was sixty and here we are literally a buck fifty away from that target could hit overnight I'm gonna be watching like a hawk for me I trade the ETF so I'll be a buyer of SLV that will be the key one there the GLD is one I'll play as well and we'll look at the GDX as well because I got to be honest the miners are getting into a key level that could be very intriguing okay so getting into this level target one target two target three do I think it could go lower than forty six well sure I mean you know one thing that I've learned and the market has humbled me infinite amounts of times is that in general because emotion rules the market in the short term while fundamentals rule it in the long term and technicals guide us generally in the short term is that because fear can be so pervasive just like greed things can go well above where I think they can go and well below so you have to be ready for that you know any time I buy it if I'm the by a position of fifty four that it fifty to forty six all even leave a chunk that I can add if it goes below there now it wouldn't be a huge chunk at that point but nonetheless I think again- in this range if you look at where price has come back to it makes a lot of sense in fact you can do other metrics to like if we look at this low which was our twenty twenty five low on silver was twenty eight dollars right so one of the ways we can do this is we do a Fibonacci retrace we take our fib we draw it up here and what do you guys notice where's where's seven eight six fib right smack in the middle of these lower two levels right so that gives a little extra credence about where we could pull back to and remember the way I work to is that let's just say I buy here here and here and that's my average my average will be approximately around fifty bucks if it bounces back to sixty four which is where I think that'll you'll get a bounce all at least take off half the position and then if it breaks out great I'll ride the rest up and I can you know back to here but if it goes to sixty four and gets rejected and comes back to fifty I can all re add to that position right so this is all about money management the biggest thing an investor or trader needs is the ability to think logically and not let emotion take over as soon as you let emotion take over you've lost like the market will feed off your emotion it's like chum in the water for sharks right the the institutional analysts the money managers all of those players are just like all blood in the water to do you know they'll take advantage of every nuance they'll push it to one extreme they'll push it to the other extreme whipping you out we've all experienced that I mean I I certainly have experienced that right but the idea is if you can get logical and you have your your game plan laid out like okay I'm gonna I'm gonna divide my amount that I wanted silver into four pieces four pieces now you might say well why four you're only mentioning three but let me explain because my first one's at 54 then 50 and 46 and then I leave that last one in case price flushes even more now if it doesn't okay well then I have a great average and I'm in the money very quickly and it's great but I always plan for the inevitable time when the markets surprise and they will they surprise to the upside they surprise to the downside they're getting lots of interesting things all right let's go to gold real quick here guys see where gold is trading gold is getting slammed to the downside it is now below 4000 at 3980 again this has been a structure I've been following right here in fact I played longs on gold off of this level I'm not playing one anymore because I am concerned that it's going to break this level now if we can break here then it's a breakout but until we do I'm favoring the downside where is the first level where I might nibble a little bit this low pivot right here around 3885 again I do think it can go lower than that and I do think it most likely will maybe as low as 3450 here but again that would be maybe a nibble opportunity for me there there's another little level here at 3775 there's another structural level at 3635 and then obviously this 35 3450 level right here so the idea is this now becomes my accumulation zone right so again it's all about having a game plan what is your game plan and your game plan doesn't have to be my game plan do a game plan that fits you but the idea is is that this becomes my accumulation zone once we get below this level anywhere in here I'll just divide up the amount that I want to dollar cost averaging on my gold trade with the thesis that I love it long term with an upside target and by the way I will be releasing by Friday so tomorrow at some point tomorrow I'm going to be releasing a massive research report that is so in depth on gold it should blow you away it's better than any research report in my humble opinion than any institution has put out I'm also I also created a gold calculator which allows you to put your inputs in to decide or it'll tell you what years gold is going to top out it or when the next bull market will happen and where gold will go on that next bull market mine is telling me 2031 to 2033 with a top of around 13 000 that'll be the next peak in gold now some of you guys will say oh my goodness that's way too high others will say oh my goodness it's going to happen a lot sooner that's the beauty of it that's what trading and investing is all about you've got to have lots of different opinions that's what creates a market all right guys so let's go to a couple other charts here but great sell-off on gold here let's look at the gdx real quick gdx here is breaking down I am intrigued so this is my ultimate downside maximum on gdx down to about 56 to 57 I do think it's worthwhile for a swing trade to play it right here at 68 which is not far away pivot low right there in fact if we drag that out look at that little pivot low right there so that looks good on gdx and then newmont mining look at the newmont bear flag breakdown this tells me again this is not a good chart on newmont mining it's probably going lower we're probably looking here at this area around 82 or so about 82 here maybe as low as 77 so I will keep an eye on that no doubt about it guys but listen when all said and done I do want to just mention real quick guys don't forget gareth top squad is my premium youtube 10 bucks a month like a a la carte starbucks coffee cost and you get discount codes every weekend I'm giving out a discount code for verified investing 20 off this 20 off that you get that automatically as being part of that and then I give you at least one maybe two premium videos just for the gareth top squad every week uh and again it's an awesome value so it's also a way for you guys to support me and just support what I'm doing here a much more technical approach and I do appreciate the kind words mean the world to me um it keeps me driven right it's it's you know when you when it's it's appreciation type thing right so you know sometimes you know people are like ridiculous and and stuff and then it's like okay why do I do this but then when I see the great comments from a lot of you guys I'm like oh yeah that's why I do it because people do appreciate the effort and and the work ethic and the analysis and the insight so anyways guys enough said by me have a good rest of your day I'll talk to you soon