Gold swing trades – week of Feb. 22 2016

Last week

1600219-Gold-price

Gold futures. Prices to Feb. 19, 2016

GOLD had a minor pullback last week. This pullback was mainly for testing the broken resistance line of the 4-month consolidation range and smoothed out a short-term overbought condition.

Last week’s trades

160219-Gold-60

Gold futures, Feb. 19, 2016. 60-minute bars

The weekly range was less than the previous week. but still substantial. Nat’s 1st buy level caught the low of the week precisely. At the high end of the range, her Key Line was missed by about $5.

The full move for the week was worth about $50, or $5,000 per contract for traders who took her entry call and managed to exit at the high.

For those who missed the exit, the end-of-week retracement was still good for about $32, or $3,200 per contract.

Note how the pivot level, broken early in the week, halted the retracement on Friday.

This week

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