Gold – inflection points for Feb. 22, 2017

Monday’s trades

GC J17 Feb. 21, 2017

Sell: $1248.10–1246.10
Keyline: $1239.50-1239.65
Buy: $1232.50-1230.50

Nice trade in  gold for overnight traders, but a substantial drawdown may have shaken some people ut before they could profit.

The market reached Nat’s sell level overnight, but spiked down on the open of the day session, before rocketing up to Nat’s keyline for the exit.

The sudden spike down set up a move worth about $700 per contract, but likely took out some stops first.

Traders monitoring the day session also had a reasonable opportunity for a short trade.

Today’s workbook

Download link: (170222daily-trading-worksheet-gold.pdf, 144KB)