Headland Research First Light · a daily market briefing

First Light · Wednesday, 16 September 2026

Your eyes and ears on the Asian session — while the US sleeps.

A daily, marked-to-market briefing on gold, FX and crypto — read from Australia while the US sleeps through the Asian session. First Light lands in your inbox each trading morning.

Published every trading morning since 12 June 2026 · 68 briefings on the public record · every idea tracked, win or lose

Track record — simulated paper bookas of 2026-09-15
$2,622
Realised P&L
46.9%
Win rate
1.19
Profit factor
208
Trades closed
−17.7%
Max drawdown

Simulated paper account — launched 6 May 2026 with a notional $10,000, every idea tracked win or lose. Simulated results have inherent limitations and do not represent actual trading. Past performance is not a reliable indicator of future results. See the full record →

How First Light works

I Evening, your time

Read First Light after work

Wall Street is shut and the Asian session is where the overnight moves happen. One concise briefing lays out the wrap, the calendar, and the day’s ideas.

II Before you sleep

Place your resting orders

Each idea comes with entry, stop and target levels — the order mechanics, so a plan can sit working overnight while you’re asleep.

III Breakfast

Check the result

Wake up to the outcome. Every idea is then marked to market on the public paper book — win or lose, no cherry-picking.

From this morning’s briefing Wednesday, 16 September 2026
Oil is still above $100 because a Saudi pipeline is shut and the Gulf talks have gone nowhere, and that has forced the Federal Reserve's hand — markets now put roughly 90% odds on a US rate rise tomorrow morning our time. Higher rates make cash more attractive than assets that pay you nothing, so gold, shares and crypto all went backwards overnight. My read is that this pressure holds right up until the Fed speaks, and everything after that depends on one sentence in their forecasts.
Today’s ideas
  • XAUUSDSHORT selling the pre-Fed retracement levels for subscribers
  • EURUSDSHORT fading the top of a very tight range / intraday levels for subscribers
  • USDJPYSHORT the one idea that isn't long dollars levels for subscribers
Read this morning’s briefing →
I

Done-for-you overnight research

Overnight wrap, the day’s calendar, and a handful of specific ideas with levels. Market commentary, not advice.

II

A public, marked-to-market record

Every idea tracked on a simulated paper book — no screenshots of the good days only. Public and continuous.

III

Research-firm discipline

Numbers over adjectives. Calibrated conviction, honest about losses. The tone of a research desk, not a hype channel.

Read the session. Place your orders. Sleep.

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