Scott Nations' Gold Futures Trade

Scott Nation spoke on CNBC's "Futures Now" about a bearish micro futures trade in gold. He said he was bullish on gold recently and although it had every reason to rally it failed to move higher.

Nations now sees downside risk in gold and he wants to sell the June micro gold futures at $1,285. His target price is $1,255 and he wants to place a stop loss at $1,300. If the price moves in his favor, Nations is going to add to the winning position.