Tuesday’s trades
GCJ17 Feb. 8, 2017. 30-minute bars.
Sell level: 1243.50-1245.30
Keyline: 1228.50-1231.50
Buy level: 1221.50-1220.50
This trade was a bit trickier, depending on what time overnight traders entered their orders.
If you entered after 11:00 pm EST, this was a fabulous call.The price dropped first, then hit the entry at Nat’s Keyline and moved straight up to her Sell level. Net profit, about $700 per contract, and no drawdown.
If you entered short before that time (as we did) you made an initial gain but were stopped out on the bounce. (If you entered long at that point you were stopped out almost immediately).
People watching the market overnight could get on the long side after the initial decline and enjoy the ride (as we did) but it raises the question of how to manage trades where the entry is at Nat’s Keyline.
We will be publishing a note in the Member Resources in the next week or so outlining some different trading strategies you could use.
Today’s workbook
[gview file=”https://www.naturus.com/wp-content/uploads/2017/02/170209daily-trading-worksheet-Gold.pdf”]