Gold swing trades – w/o April 4, 2016

Last week

160401-Gold-price

 

GOLD bounced between the 20- and 40-day moving average lines last week and tried (successfully) to hold the price above the psychological support at $1200. Fed Chair Mrs. Yellen’s dovish comment last Wednesday encouraged investors to take profits from the three-month rally from mid-December.

Last week’s trades

160401-Gold-60A decent week for traders, even though the weekly price range was relatively small, about $40, and the weekly price change was only $2.

There were two fair-sized moves, one up, one retracement, that offered reasonable trades.

For the first, the price made a low just $1.50 above Nat’s first buy level, but the low was made in the small hours Sunday.

If you placed a resting order Saturday when Nat’s gold outlook was posted you had a reasonable chance of catching it. Otherwise you had to look for an entry point around the support level at $1217 established during the day session Monday.

That led to a $23 move up to Nat’s key line, where the move stalled and reversed/

The second trade was a breakdown from the Pivot level at $1231, which moved back to (and below) Monday’s support at $1217. We didn’t catch all of that move, but we got most of it.

Together those two transactions provided about $3,600 profit – per contract – for traders who caught them both.

Note that many of these good trading opportunities are beginning outside of the regular trading session, especially after the European markets open in the early morning (New York time). To catch them without waiting for the small hours of the morning, many of Nat’s traders are using resting orders placed earlier in the evening.

This week

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