GCZ09 – Comex December Gold (Last:1009.40)

It’s not often that we find potentially great camouflage on the hourly chart, but if December Gold moves as I have hypothesized in the accompanying chart, it will set up a beautiful entry opportunity at ‘X’ that seems very likely to give buyers a pleasurable ride.  I am not going to complicate my instructions by telling you how to get long in a hundred words or less, but will instead leave it up to pivoteers in the chat room to do the explaining if and when opportunity knocks Tuesday morning. _______ UPDATE (10:05 a.m.): Gold eased lower overnight, and so the entry opportunity we were looking for did not materialize.  The weakness hints of more downside to 988.40, or to 988.50 if any lower.  Alternatively, an upthrust that touches 1006.40 would put bulls back in the driver’s seat. _______ FURTHER UPDATE (2:13 P.M.):  A trade flagged in the chat room is working nicely for anyone who went long mechanically by-the-numbers.  On the 15-minute chart, using the one-off ‘A’  at 995.90 that was advised, the target lies at 1011.30 — two ticks from where the futures have just made a (presumably) short-term top.