Weekly Hot Take - The Opportunity

6/02-10/02

Recap of previous week

Welcome back everyone to the weekly newsletter! This week we’ll start with a recap of previous week and then we’ll go over the pullback in precious metals and if it is completed yet and how to further prepare! I’ve promised to the paid subscribers to start giving them extra insights and an edge to the market, so you’ll see that I’ve made the trading plan of upcoming week, paid only! If you wish to grab yourself the paid insights aswell with my newest feature incorporated, then don’t hesitate to get the limited promo that is still ongoing. Let’s get right into it!

First off all I recommend reading the previous weekly newsletter again where I said that the blue scenario on the daily was much more likely.

Weekly Hot Take - The decision

Other big players in this game with 20K followers all screamed for a pullback for months while price went up and up. Meanwhile we stayed long and prepared ourselves for the blue scenario to play out. Which was silver and gold correcting before further upside. I made this call only last weekend and the action came immediately. No bullsh*t, no waiting on the wrong side of the trend. Just directly and actionable. Now we can see that the pullback has started, what is our gameplan next? Is it done or not, let’s dive into it!

Precious Metals

XAUUSD

(monthly)

We pulled back from the 1950 area in gold, however we can also see on the monthly that everything is still bullish, we got extremely stretched above the EMA’s and we’ll now reconnect with them. In my opinion we’ll reconnect with the EMA’s via a monthly wick. Combining both cycles, elliot waves and institutional prints I’ve got a pretty good reading of the possible routes we could take now. But let’s take a deep dive into the weekly and daily next to explain level by level what we can expect here! I’ve seen some very interesting signs in the institutional trades! For example one of the largest blocks trades ever in $slv !!!

(Weekly)

For the weekly candles we can see that we had a massive pullback last week! But we got a MASSIVE institutional print on the lows, so what’s next? Let me explain below :

This pullback was kind of due because we’ve been going almost vertical the past few months. Also I’ve incorporated a new feature in my analysis to spot certain reversal points even better. In my opinion we’ve just had a massive metals upwave to kickstart the bullrun, where the big boys are still on the side. That is why we’ll pullback aggressively now to shakeout the early bulls and then the big institutions will load the miners and metals on the other side of the shakeout for the next upleg.

The likely route for me is a small bounce next week (unless there is a general liquidity event happening next week). And then I still expect one more nasty smack towards atleast $1827(could be deeper as a wick). This would be a backtest of the yellow 20EMA or $1780-$1800. So that is the downside expectation for bulls. I’m using this dip, as said many times, to add heavily in the (junior) miners.

You are probably wondering why I am so confident that big institutions are adding on the other end of the pullback… Well that is because you can track institutional prints via certain software. When price goes up hard and you get big prints on the high of the day, then you can assume it’s dumping into strength. While after a big smack and there comes a big print on the lows, then you can assume they are buying the dip. If you combine this basic thinking together with the rarity and the size of the print compared to other buys/sells then you really know the power of such a buy or sell. I’ll get to this again in the silver section.

(Daily)

On the daily I’ve highlighted a path that I expect. It’s not an exact science and we take it level to level ofcourse. But i’m going to be slowly adding the coming 2 weeks. If the lows and targets match up with a few more huge institutional prints then we can be sure that we’re ready to move up again.

XAGUSD / SILVER

(Monthly)

For silver monthly we can see that we have pulled back sharply just as with gold. Silver has been in a ‘coil’ for a very long time and that energy got released to the downside. Which is indeed the blue path as I’ve highlighted last week. We are coming close to the $22 dollar level, so here i’m expecting a bounce aswell, and then likely another smack to complete the pullback. This whole process might take a couple of weeks, so don’t expect everything to happen directly and that we’ll be at $30 in 2 weeks.

(Weekly & daily)

For the weekly&daily candles on silver I’m sticking with my blue path from previous week. Little bounce and then another smack. Let me now talk again about the ‘institutional prints’. We can see from the picture below that $slv got a massive print on the lows close to our $22 support. This makes me think that big boys/girls, are buying this downmove/correction on the other end. When they’ve accumulated enough we’ll go much higher again. Underneath you can see a picture of the big print.

This print was the 16th LARGEST print ever in SLV !!!! That is significant. With this I want to wrap up and summarize for next week.

Summary

1. We can expect some type of small bounce next week, followed by one more pullback the week after that or 2 weeks after that.

2. Big institutions are buying heavily on the other end

3. I’m buying the dip via the miners (as imo they will outperform once we continue back up)

Good luck the upcoming week! If I notice any significant changes to the plan then ofcourse I will update the paid members ASAP! To get them on top of every move!!

If you liked this weeks hot take, I would kindly ask you to like, comment and retweet on twitter. This way we can help more people stay on top of the precious metal game!