Gold – inflection points for Feb. 17, 2017

Yesterday’s trades

Sell: $1240.50-$1243.00
Keyline: $1231.$50-1228.50
Buy: $1219.50-$1218.00

A near miss for gold traders yesterday. The overnight low was $2 above Nat’s Keyline, which means that traders placing orders strictly at Nat’s numbers did not get the entry.

Those who faded her levels a little probably did, and captured a move worth about $900 per contract. Quite a difference.

Some overnight traders with resting orders would have entered short at the Sell level. The trade didn’t cost them anything except the commission, but there was no significant profit in it.

If they stayed in the trade after the day session close (not usually recommended, but we did it) they had a chance at a better outcome.

Today’s workbook