Gold – inflection points for Feb. 8, 2017

Tuesday’s trades

Sell level: 1243.50-1245.30
Keyline: 1236.00-1237.50
Buy level: 1225.50-1223.50

AN interesting day for Gold traders. There were two good moves, but catching (and keeping) one or both required some care.

The price moved into Nat’s Keyline early  in the Globex session and obediently dropped down to within two points of her buy level.

How well you did for the day depended on what you did next. If you held on to the position until the bitter end, waiting for the price to hit the buy level, you saw the entire downside move evaporate, although you could still catch a small profit by exiting market-on-close.

If you said close is good enough and reversed the position you caught the round trip back up to her Keyline, Each leg of that move was worth about $650 per contract.

Today’s workbook

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