Gold – inflection points for Jan. 26, 2017

Yesterday’s trades

A nice move in gold, and easily captured by both overnight traders and those in the live trade room.

The futures touched Nat’s Keyline twice in the pre-market session, providing easy entry points.

As soon as the day session started there was a concerted sell-off that dropped the price down to Nat’s buy level, and provided an exit for the shorts.

Some traders in the trade room (and conservative overnight traders) used that sell-off as an entry for a second leg back up. The exit was market-on-close.

The first leg netted about $1100 per contract; the second about $230 per contract.

Daily workbook

Download link: (170126-daily-trading-worksheet-GOLD.pdf, 169KB)