Gold – inflection points for Mar. 10, 2017

Yesterday’s trades

GC J17. Mar. 9, 2017. 30-minute bars.

Sell: $1218.60-$1221.00
Keyline: $1213.00-$1214.50
Buy: $1203.00-$1201.50

Both gold and oil have been getting hammered this week, and both have broken below Nat’s buy level on several occasions.

Yesterday gold futures dropped to Nat’s buy level to give overnight traders an entry point, but continued declining after a half-hearted rally that failed to reach any reasonable exit.

The likely outcome was that overnight traders were stopped out.

Subscribers to the trade room saw the price spike at the beginning of the day session but stop well below the keyline. Traders who disregarded the keyline and entered at that point booked a profit of about $500 per contract on the subsequent decline.

Today’s workbook

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