GUNNER24 Trade of the Day 06/23/2021
The 1:3 Trade: Buy PLN1 Platinum July 2021 contract today at 1073.50
Dear GUNNER24 Traders,
The 1:3 Trade: Buy PLN1 Platinum July 2021 contract today at 1073.50
Our 1:3 trades are A) adjusted to a longer term, having a spacious stop-loss for the development not to be endangered and B) have to show a risk-reward ratio of more than 1:3.
Initial up impulse on daily base has started
PL # (Platinum continous futures contract) mid of February topped into current year high and so far yearslong bull market high what began at 562$ Final 2020 Bear Market Low what smells like the FINAL LOW of the new 2020-2029 DECADE.
Below is weekly chart that shows that the so far annual high of 2021 at 1348.2$ and the 2020 Bear Market Low represent extreme exhaustion on a weekly and monthly and yearly base. Additionally we recognize the 2020 Bear Market Low represents an unusual decisive YEARLY SPIKE LOW:
The monthly correction that started at # 1 // 1348.2$ 2021 Top is now at week candle No. 19. A figure close to the 21 Fib number, always potential very important time turn magnet.
What seems extremely interesting with regard to the correction count is the fact that exactly 88 trading days passed from the start of the correction to Monday of this week when the current low of the current week was printed at a 1021.7$. We thus recognize that the daily 89 Fib number can have triggered whatever kind of A) more or less important low or B) turnaround.
At 2020 Bear Market Low I`ve anchored a GUNNER24 Up and this together with choosen scaling of the chart you see that there is the possibility that this week low perhaps found most natural = most strongest MAJOR price/time support out of the possible final DECADE low. The 1*1 Bull Market Angle.
There is the chance or possibility that an 2021 corrective cycle 100% accurately tested back most natural price/time support of the yearslong bull market successfully from above after a to the daily 89 Fib number oriented time magnet and this makes: "Always when time meets price, a trend change is imminent".
Next lets drag that weekly GUNNER24 Up in this way:
And we get a classic 5 Fib number up what forecasted bigger bull problems perhaps starting at lower line of 3rd double arc. By this measurement above we find the 2021 Spike Top arrived with an 98% accuracy or so at lower line of 3rd resistance and this rail became future very-confirmed big arc resistance by the lower weekly correction high that arrived at # 13-Fib number top = time found price..., ...trend change imminent...
So the selected scaling makes a lot of sense cause the 2 important weekly 2021 correction highs are in nearly perfect harmony to the 1*1 Bull Market Angle low, made on Monday at 1021.7$.
And because these 2 important 2021 highs are again very-well mathematically connected to the bear market low.
Obviously the 1*1 Bull Market Angle started to radiate some support energy. The week body is "green" so far.
Think, the at this week low and 1*1 Bull Market Angle started daily up impulse could test back the nearest important = strongest weekly resistance rail above and this is the prior well-confirmed 1117.50$ GUNNER24 Horizontal Resistance which springs from the highest price of the lower line of 1st double arc!
I have nearterm uptarget for PL # should be the heavy-resistance upmagnet sitting at 1117$!
The nearterm 1117$ uptarget could or might be even reached until this week Friday...:
Watch the daily development since early-Monday made so far 1021.70$ week low. That price triggered clear bullish forces and with a small series of higher day lows, higher closings and higher day highs. This is daily up impulse underway. Up impulse with today is at day # 3, so this Fib number allows that the up impulse will end today at today`s high, but I doubt that. Tend to a 5 Fib number daily up impulse cause the fact that this week low was made early in the week the chance is high that the final week highs will come true late in the week and this could be the Friday = possible day # 5-Fib number of up impulse.
The up impulse strongly respects a naturally, within setup anchorable Gann Angle with yesterday low inspired by that angle and today`s low so far exactly at that angle support and today`s opening auction also inspired by the angle support. Cause this angle is a relative steep upward oriented Gann Angle we realize that a so called "Rally Angle" should be at work. And when market further on will be oriented to the day by day rising support of the Rally Angle above it isn`t unlikely that a 5-day up impulse could hit 1117$ nearterm uptarget within days!
Ok, we know when precious metals are in "official" downtrend until confirmed otherwise the bigger US Boys = Institutions love to push them down to milk the downtrend as much as possible. So it shouldn`t surprise us the US Boys will be able to force platinum lower into today`s open (1073.5$) and low (1069.6$) support magnets shortly after the regular US open.
Cause likely today will be the next uptrend day for PL #, today`s opening and low auctions usually will radiate stronger daily supports. Nearest daily strong support could be today`s opening magnet. Let`s try a long position there and for today:
Buy when PLN1 Platinum July 2021 contract today again trades at a 1073.50$!
==> 1:3-Buy-Limit order at 1073.50$. The Buy-Limit order is valid only for today, 06/23!
==> Nearterm uptarget at 1117.00$!
==> Place SL for today`s long attempt at 1062.00$.
Risk = 11.50$. Potential reward = 43.50$. Risk-reward ratio 11.50/43.50 or 1:3.78
GUNNER24 Trade of the Day orders for 06/23/2021:
Market: PLN1 Platinum July 2021 contract
Orders: Buy-Limit at 1073.50. Stop-Loss (SL) at 1062.00. Nearterm uptarget at 1117.00. Buy-Limit order is valid only for today, 06/23/2021.
Markets, Money Management and Trade Size
I will merely analyze the market. There are so many instruments in the world outside our GUNNNER24 Traders use to trade, and hundreds of popular ones among them, often depending on a trader’s time horizons... I don’t consider me able to adjust the market recommendations to all the popular ETFs, different CFD or futures contracts. All I’ll analyze is pure market action - the index, stock or most current contract and forex!
The trade size you should use depends.
A) On your account size:
I usually follow the rule of thumb which says, never bet more than 1% of your account size for each trade. So I avoid overtrading...
Let’s say you have got a 30.000US$ account granting you a nominal buying power of 300.000US$ up to 500.000US$ and even more, depending on your broker and instrument. In that case your trade size shouldn’t be more than 3.000US$-5.000US$ taking into account your buying power.
Another - more conservative - method is taking into account the available margin. Usually, 30.000US$ account value equals 30.000US$ available for margin trading. So the trade size is 300US$ taking into account the margin.
Within Trade of the Day I ask you not to bet more than this 1% per any trade.
The other point to consider for determining the trade size is:
B) if your trading style is rather active, supposing you regularly have 30-50 open trades, just as I have - CFD/ETF, here some stocks, there a future contract. So I often trade risky somehow, but I split the money/bets. Even in such a nice trend as the stocks are showing currently, I never ever trade too risky. I never load the boat with 70% let 90% of my account size. 50% is the maximum.
I trade for my living and for my kids and wife as well. A regular income is important. The big-bang bet isn’t! The market would win such a big-bang bet for sure!!
When I have a lot of open trades, maybe up to this 50% of my account size/available margin I avoid trading more. So if you are an active trader having a lot of trades running at rev limiter (50% account size) please avoid trading even though we/I give you some fresh recommendations, because this would rise YOUR risk!... During the test phase that happened frequently. We had 3-5 open trades sometimes and that’s why it’s elementary important that we/you have to use tight SL. Order management is absolutely crucial for Trade of the Day.
You’ll have to place really each and every order accordingly, you know. Forgetting only one time the SL would make this trade getting worse and worse…
Long Wheaton Precious Metals Corp. (WPM) at 46.30$ since 16. June 2021. NO Stop-Loss!! Shortterm uptarget at 52.30$.
Long Schlumberger Limited (SLB) at 33.70$ since 16. June 2021. NO Stop-Loss!! Shortterm uptarget at 40.40$.
Long Schlumberger Limited (SLB) at 35.00$ since 10. June 2021. NO Stop-Loss!! Shortterm uptarget at 40.40$.
Long GBP/USD at 1.4022 since 13. May 2021. NO Stop-Loss (SL)!! Shortterm uptarget is 1.4330.
Short Invesco DB US Dollar Bullish ETF (UUP) at 24.45$ since 30. April 2021. NO Stop-Loss (SL)!! May 2021 downtarget at 24.23$ is worked off. 2021 Main downtarget at 23.20$.
Long Kirkland Lake Gold Ltd. (KL) at 38.20$ since 23. April 2021. NO Stop-Loss (SL)!! Shortterm uptarget at 43.00$ is worked off. Possible main uptarget at 46.80$.
Long Freeport McMoRan Inc. (FCX) at 37.42$ since 19. April 2021. NO Stop-Loss (SL)!! Nearterm uptarget at 42.70$ is worked off.
Long Grayscale Bitcoin Trust (GBTC) at 48.70$ since 07. April 2021. NO Stop-Loss (SL)!! Shortterm uptarget at 57.50$.
Long Yamana Gold, Inc. (AUY) at 5.95$ since 06. January 2021. NO Stop-Loss (SL)!! First & necessary uptarget at 6.41$. Shortterm uptarget at 6.80$.
Long JD.com, Inc. (JD) at 86.50$ since 09. November 2020. No Stop-Loss (SL)!! Yearly uptarget at 103.50$.
Long Agnico Eagle Mines Limited (AEM) at 83.83$ since 17. September 2020. NO Stop-Loss (SL)!! Year-end MAJOR uptarget at 100.00$.
Long Abbott Laboratories (ABT) at 112.00$ since 28. August 2020. First uptarget at 123.00$. Yearend uptarget at 133.00$. NO Stop-Loss (SL)!!
Long Pan American Silver Corp. (PAAS) 31.70$ since 09. July 2020. Place a Stop-Loss (SL) at 32.70!! Imminent first uptarget at 35.00$ & Shortterm uptarget at 38.60$ is worked off.
Long Kinross Gold Corporation (KGC) at 6.86$ since 23. April 2020. No Stop-Loss (SL)!! Shortterm uptarget at 10.30$ is worked off.
Long Market Vectors Gold Miners ETF (GDX) at 32.50$ since 22. April 2020. No Stop-Loss (SL)!! Midterm uptarget at 39.50$ is worked off.
Long Nutanix, Inc. (NTNX) at 37.10$ since 18. February 2020. No Stop-Loss (SL)!! Monthly uptarget at 43.50$. Combined weekly and monthly uptarget at 44.90$.
Short Market Vectors Gold Miners ETF (GDX) at 22.42$ since 11. June 2019. NO Stop-Loss (SL)!! Shortterm downtarget is 21.59$. Possible downtarget at 20.77$.
Short iShares Silver Trust ETF (SLV) at 13.87$ since 03. May 2019. NO Stop-Loss (SL)!! First downtarget at 13.53$ as Shortterm downtarget at 13.41$ are worked off. Possible 2020 main downtarget at 12.92$ is worked off.
Long iQIYI, Inc. (IQ) at 26.90$ since 18. March 2019. No Stop-Loss (SL)!! 2020 uptarget is 40$. Shortterm uptarget is 30.90$.
Long Evolus, Inc. (EOLS) at 25.55$ since 13. February 2019. No Stop-Loss (SL)!! 2020 uptarget is 32.00$.
Short Philip Morris International Inc. (PM) at 71.75$ since 17. January 2019. No Stop-Loss (SL)!! Main downtarget at 63.00$ is worked off. Could drop into 40s in further course of 2021.
Long Micron Technology, Inc. (MU) at 52.00$ since 28. March 2018. No Stop-Loss (SL)!! New 2021 uptarget at 95$-100.00$!
Long SPDR S&P Biotech ETF (XBI) at 87.20$ since 04. January 2018. No Stop-Loss (SL)!! First uptarget at 93.50$ is worked off. 2018 main uptarget at 100.00$ is worked off! 2021 main uptarget at 150.00$ is worked off!.
Long iPath Bloomberg Nickel Subindex Total Return ETN (JJNTF) at 14.87$ since 09. November 2017. No Stop-Loss (SL)!! Shortterm uptarget at 16.25$ is worked off. Main uptarget at 20.00$ is worked off.
Long Southern Copper Corp. (SCCO) at 41.10$ since 09. October 2017. No Stop-Loss (SL)!! Shortterm uptarget at 46.00$ is reached.
Long Pretium Resources Inc. (PVG) at 11.00$ since 27. February 2017. No Stop-Loss (SL)!! 2021 uptarget at 25.00$.
Long Pretium Resources Inc. (PVG) at 11.50$ since 10. February 2017. No Stop-Loss (SL)!! 2021 uptarget at 25.00$.
Long Freeport McMoRan Inc. (FCX) at 14.30$ since 15. December 2016.
No Stop-Loss (SL). Shortterm uptarget at 16.43$ is worked off. Main
uptargets at 22.00$/24.00$ are worked off.
Long Torex Gold Inc. (TXG.TO) at 32.80 CAD$ since 09. September 2016. No Stop-Loss (SL)!
Long McEwen Mining Inc. (MUX) at 4.60$ since 19. August 2016. No Stop-Loss (SL)! Shortterm uptarget at 5.50$. Midterm uptarget is 6.00$. Main target is 7.40$.
Short SPY ETF at 421.67$ since 22. June 2021. Stop-Loss (SL) at 425.46$. Shortterm downtarget at 393.00$.
Long Advanced Micro Devices, Inc. (AMD) at 82.60$ since 21. June 2021. Stop-Loss (SL) at 79.60$. Shortterm uptarget at 94.00$.
Long CORN Teucrium Corn Fund at 20.15$ since 17. June 2021. Stop-Loss (SL) at 19.45$. Shortterm uptarget is 23.60$.
Short SPDR S&P Homebuilders ETF (XHB) 72.55$ since 11. June 2021. Stop-Loss (SL) at 74.30$. Shortterm downtarget at 67.00$. Possible panic cycle downtarget at 60.00$.
Long U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) at 19.90$ since 12. April 2021. Stop-Loss (SL) at 18.75$. First uptarget at 21.00$ is worked off. Shortterm uptarget at 23.70$.
Long Sociedad Quimica y Minera de Chile S.A. (SQM) at 60.00$ since 16. October 2017. No Stop-Loss (SL)!! Shortterm uptarget is 66.90$. Main target at 77.00$.
Long Hudbay Minerals Inc. (HBM) at 8.10$ since 08. September 2017. No Stop-Loss (SL)!! Shortterm uptarget at 11.05$. Main uptarget at 12.00$.
Short S&P 500 Index at 1880 since 14. January 2016. No Stop-Loss (SL). Shortterm downtarget at 1740.
Long Market Vectors Junior Gold Miners ETF (GDXJ) at 43.09$ since 09. July 2014. No Stop-Loss (SL). Longterm Buy-Target is 60.50$.
Long GLOBAL X Silver MINERS ETF (SIL) at 13.79$ since 18. March 2014. No Stop-Loss (SL). Shortterm target at 15.48$. Main targets 17.42$ and 20.00$.
Short S&P 500 Index at 1820 since 11. February 2014. No Stop-Loss (SL). Shortterm downtarget at 1740.
Based on the George Douglas Taylor Trading Technique that I’ve been studied and originally traded for years transferring it onto the modern markets by constant observation a five day pattern of the single days of the week has resulted.
The crux is not so much that the entire week has to work perfectly. Perhaps it does just at a 50% because the day patterns may shift by one or two days. In the strong upwards trends sometimes you see 4 buy days and only 1 sell day. It’s important to recognize that the day proceeds ideally-typically and to trade accordingly.
My personal trading style has always been the contrary to that of the crowds because the crowds always loose. Especially in gold and silver trading I like to buy the corrections Monday to Wednesday and on Friday if the day patterns correspond with some important GUNNER24 Signals.
I use to go short intraday just on Thursday when the week high is sold off AND provided that the corresponding GUNNER24 Setups signal so covering the shorts when the cycle is resumed.
The ideal five day pattern in an upwards trend – precious metals and US stock market – Do use those patterns for your intraday and swing activities!
Monday: Buy day. Strong up-day. Low established first. It often ends at the day high. Unthinkingly you may buy all the intraday corrections because the week high comes later in the course of the week.
Tuesday: Buy day. Weaker up-day. A higher high is produced. As early as now the crowds ponder whether the prices mightn’t run too high partially going short already. For me it’s the day when I can cover my Friday and Monday longs. In intraday I try to go long in case of corrections until the Comex opening.
Wednesday: Sell day. Actually the day for covering the longs and for the first short entry. It’s got some different forms. It closes at the same level as it had opened. Frequently at first the high is established because more and more traders short the market. Here the longs fight against the shorts. You recognize that if many teeth, many nicks, many spike candles are to be seen in the chart. On Wednesday I use to do nothing. Only at a 20 to 30% the shorter hearts are pleased because during the whole day there’s only sell-off.
Thursday: The classical sell short day. Because the Wednesdays often close as they had opened the market participants have to cover their shorts because in the beginning the market runs quickly upwards…! And frequently they turn their positions into the high direction being caught on the wrong trail again. Then the market often lays down a beautiful sell-off. In the evening mostly a strong rally follows. That’s where we cover the shorts.
Friday: Classical buy day in the upwards trend. It’s nothing for weak hands. Here’s where you buy the positions near the Thursday lows which you cover again next Tuesday/Wednesday. If you discover that the prices have steadied or even are rising a little bit by closing the five day cycle should continue in the following week.
Orders: Buy-Limit at 1.2267. NO Stop-Loss (SL)!! First uptarget at 1.2350. Shortterm uptarget at 1.2550. Possible year-end uptarget at 1.28 to 1.29. Buy-Stop order is valid until cancelled.
Market: FDAX (FDXU21)
Orders: Sell-Limit at 15690.00. Stop-Loss (SL) at 15740.00. Shortterm downtarget at 15100. Sell-Limit order valid until 06/25/2021.
Market: Bed Bath & Beyond Inc. (BBBY)
Orders: Buy-Limit at 25.10. Stop-Loss (SL) at 22.90. Shortterm uptarget at 35.00. Buy-Limit order valid until 06/30/2021.
In the charts we work with the following symbols: