Gold swing trades – week of Jan. 18, 2016

Last week

Gold futures - prices for week ending Jan. 15, 2016

Gold futures – prices for week ending Jan. 15, 2016

GOLD pulled into the low band of the former four-months consolidation range for testing last week. On Friday, it rebounded, and retraced Thursday’s pullback. The futures closed at the middle of weekly trading range.

Last week’s trading

Nst's swing trades, week ending Jan. 15, 2016

Nst’s swing trades, week ending Jan. 15, 2016

It was a choppy week. The price never reached Nat’s upper resistance. Instead it declined from the outset Monday and triggered a short trade Tuesday. That was stopped out when the price reversed Wednesday.

Thursday the short was back on and continued to Nat’s 1st buy level, before reverting back up to the Key line again.

Three trades total, one stopped out, for a potential profit of about $30 per contract, minus the value of the stop on the first trade. A decent week’s work. Click the chart to enlarge.

This week

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