This is the type of price action I like to see if I am on a fishing expedition. Today I am fishing for Silver. I want to buy a little of the SLV ETF.Why, because it just put in a new low into a big area that has the potential for a good reversal. Obviously the best level would be around the 200 day in the Silver ($29), however sometimes it just never quite gets to these areas. Since I am a long term metals bull the only way to get on this trade would be to start scaling in with very small nibbles into this zone. The futures are far too volatile for many of us and I guess my age is showing. I am very risk averse!

The risk in the Gold is $20 from here.

This trade is suited for the longer time frame investor