Weekly Hot Take - GO GO GO
20/03-24/03
Welcome
Hello everyone and welcome to the weekly hot take! A few newsletters ago I told the alert reader that I would name the weekly newsletter ‘GO GO GO’ if my system said that it was buy time after the pullback. Well this should be it. I think the time to buy quality juniors is now closing very rapidly as gold is marching towards ATH’s and silver will make a swing move higher to catch up to gold.
We’ve correctly predicted a very strong week for silver and gold! Don’t believe me? look at the summary of last week below:
To round up this short introduction I want to say thank you for reaching 2000 followers on twitter! As a special I want to give everyone that hasn’t subscribed the possibility to get a big discount of 20% off forever! It will only last for 2 weeks, so make it count ;-)
Make sure to read the newsletter till the end because it’s quite lengthy with a lot of charts on both precious metals and crypto! Have fun!
Precious Metals
XAUUSD
(Monthly)
Holy sh*t ! This is a monster candle. I’ve mentioned some newsletters ago that I was expecting gold to backtest the monthly ema’s via a WICK!! LOOK WHAT WE GOT! I will now share another interesting view for gold on the 3 month candles:
Does this looks bearish ? NOT AT ALL. I’m extremely bullish here long term. The safe bulls and definitely the bears here will wait till we do a close above $2070ish. But I’m assuming that we will break this. So yes, we haven’t broken out until we did, but we will already have booked 100%+ on our junior miners by that time. As macro suggests, this move is driven by fear, trust issues in the banking sector and falling short term rates. Looking for continuation to the upside next.
However, in what case does this move fail? Let’s have a look at the weekly now:
(Weekly)
Weekly looks incredibly strong aswell, I only see this move failing in case of a general stock market collapse. The only thing I see here is POWER. I will skip the daily because that looks just as bullish.
XAGUSD
(Monthly)
For silver monthly I said that this looked bearish as we were below my EMA9 and EMA 20. Well we are inching back above now. Also the 21.9-21.6 area is the line in the sand on my chart, so above these levels I’m bullish and below I am bearish. We will have to take a look at the daily and the weekly for clues now since the monthly candle hasn’t closed.
(Weekly)
A very bullish weekly close above both ema’s. This gives us a very good indication that silver is about to follow gold and thus the rally is FOR REAL. The only way this fails right now is a stock market collapse. I’m repetitive here, but I believe that as long as the stock market doesn’t collapse, that we have just started the biggest move up since a very long time.
(Daily)
My ema’s on the daily are pinched and curling upwards supporting the move UP!! We mentioned it last week that the setup was there and BOOOM! Very happy to see this play out. I hope that all the readers are profiting of this move. The next overhead resistance will be the $24-$ 25 zone. Above that zone and we will accelerate aggresively. Until then we want to see that silver keeps moving up supported by these daily ema’s.
Crypto
($BTC, weekly)
Won’t say much more then we’ve correctly bought the bottom before the whole move up here. We are up 70%+ on the spot alone. Congrats to everyone that has followed. We also moved our stop up so we can never lose money anymore. Our stop is at 10% profit. Don’t believe me read back the following three newsletters:
In “the survival of the open minded” we bought around $16K and in “the wall of worry” we showed that we were up 20% and now in “the signs of change” we moved stop to 10% profits. Now up 70%!!!! All documented.
Thank You!
Thanks guys for reading this weekly hot take!
Silver has $24-$25 next
Gold $2070
If above these levels, watch out above!
Only way this fails is in case of a stock market collapse imo.
Our bottom call on crypto is up 70%!
Please comment on my twitter what else you want to see covered so that we are winning in all the markets! Last but not least, I want to ask every reader to interact with this newsletter here on substack through a like or comment and to share it on twitter. Feel free to tag me there aswell!