GCM10 – Comex June Gold (Last:1175.10)

We’re using a Hidden Pivot at 1208.80 as a minimum upside target for now, and it is looking less and less like we’ll see an opportune pullback first to its 1166.60 midpoint sibling. This implies that trades from the long side are more likely to use camouflage afforded by the uptrend than to use retracement targets for bottom-fishing.  FYI, as of 7:24 p.m. EDT, the futures were working on just such a camouflage pattern, having tripped a buy signal at 1184.10 (stop 1183.40; see chart). _____ UPDATEGold got socked for a $15 loss today, bringing it down as low as 1166.90.  Bottom-fishing below 1170.00 is advised, but it should preferably be done using such camouflage opportunities as minor abc uptrends may afford us.  I suggest looking for this leverage on three-minute charts or lower.