Gold – inflection points for Apr. 17, 2017

Thursday’s trades

GC M17. Apr. 13, 2017. 30-minute bars.

Sell: $1289.50-$1290.50
Keyline: $1278.50-$1279.50
Buy: $1270.00-$1268.75

It was an unusual day for gold traders. The rally that has moved gold prices up about $165 an ounce in the first three months of the year stopped for a rest at Nat;s sell level Thursday.

The price reached her sell level overnight, and stayed there for the day session open. Both overnight traders and trade room subscribers could have caught that entry easily.

But there was no clear signal to get out of the trade, and if you held the position into the close there was no profit.

The maximum available to those watching the price action in real time was about $450 per contract, but only if they caught the bottom almost exactly. It was a difficult day to trade.

Today’s workbook