GCG10 – Comex February Gold (Last:1126.00)

Someone in the chat room said the bullish tripwire I’ve set at 1154.60 is a bit ambitious, and I agree. But nothing less than that will do if we are to be “sure” that the correction is over. Even so, opportunities to get long speculatively with almost no risk abound, and I’ve have sketched just such a one in the accompanying chart. Remember, an impulse leg need only exceed one internal and one external peak to qualify as such, and the subtler the better.  “Subtle” is what you will see in this chart, and it is patterns like this one that will allow you to test the water a half-dozen times a day, initiating speculative long positions that are likely to make you a small profit even if you’re wrong and the futures fail to get airborne.  There are a dozen people in the chat room intraday who know how to use patterns like the one shown, so don’t hesitate to ask if you’re not sure.