TheStrategyLab.com key charts and their stories for active traders of COMEX Gold GC Futures

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Posted: February 27th Tuesday @ 7:29pm est 2007

Key Market Day

Key Market Day does not imply that the particular trading instrument discussed below will continue in the direction of the pattern signal.

It implies that the pattern signal occurred on a trading day that had impact into the direction of the pattern signal via either a key economic report, key regular schedule market event, key geopolitical event, market seasonal tendency (cycle) or the price action of another key market.

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The stock market took a beating today and when such occurs there usually is a flight to quality to COMEX Gold GC or any other Gold trading instrument.

However, today there was too much bearish geopolitical news, bearish Asia markets to allow such a hedge.

In fact, the flight of quality was into the Treasury Futures (T-bonds, T-Notes).

Regardless, COMEX Gold GC produced a Short signal via the Swing Trading Report (STR) to cause a failure to the counter-thrust.

WRB profit targets are obvious on the chart without me having to annotate such and if you don't understand WRB profit targets you should try our profitable free strategy because it is detailed in that strategy.

In addition, not annotated on the below chart, is another STR short signal around 1320hrs that would have served as a signal to ADD to the open position to help compound the profits.

Trading Instrument: COMEX Gold GC Futures

Price Action Pattern source: Swing Trading Report (STR)

Click on chart to view actual size

If you have any questions about either the price action involving the pattern signal or the pattern signal itself...

You can send an email to questions@thestrategylab.com

Also, to view the archives of what we consider to be key market days along with the clues associated with the key price action...click here.

Disclaimer: The above chart in the key chart stories is for illustration only and they represent trades (real money or simulator) of those traders that have access to either our profitable free strategy, trading reports or trading manual.