Scott Nations' Gold Futures Trade

On CNBC's "Futures Outlook," Scott Nations said he's a seller of gold micro futures contract. With the pandemic close to an end, people don't need safe haven anymore, thinks Nations. Those who are looking for safe haven, have Bitcoin, he added.

Nations would wait for gold to come back a little bit and then he would sell the February micro e-mini contract in gold at $1,800. He would place a stop loss at $1,860 and his target price is at $1,680. If the price reaches his target, he is going to make $1,200. If gold trades higher and Nations manages to close at the stop loss, he is going to lose $600.