Gold – inflection points for Feb. 15, 2017

Yesterday’s trades

GCJ17 Feb. 14, 2017. 30-minute bars.

Sell: $1244.50-$1243.50
Keyline: $1235.00-$1233.50
Buy: $1222.70-$1223.50

Yesterday was an object lesson in the danger of setting your stops too tight.

We entered short at the Keyline with a stop at $1236. The stop was hit at the high of the day, and the market tanked directly to Nat’s Buy level.

We lost about $250 on a trade that would have netted about $1200 with a stop one tick higher, a reminder of the danger of excessive caution.

Fortunately we caught the rally from the Buy level back toward the keyline. We showed a profit for the day; just not a yuuge profit.

Today’s workbook