GCZ10 – December Gold (Last:1332.70)

December Gold (GCZ10) price chart with targetsWe’re using a Hidden Pivot at 1381.25 as a minimum rally target, but with a hair-trigger alert if the futures should develop palpitations on the way there. For now, that would imply a swoon down to 1339.90, where the 15-minute chart would turn bearish. Night owls can use a pattern similar to the one shown in the chart to board, but don’t hang around for more than a minute or two if the rally shows reluctance to get to the C-D midpoint. _______ UPDATE (2:20 a.m. EDT): An abc rally similar to the one shown provided an untroubled entry opportunity around 1:33 a.m. at 1354.90.  Two of the three coordinates of the pattern were single-bar as required, the impulse leg exceeded one internal and one external peak (on the 3-minute chart), and the futures never came back down to ‘C’. _______ UPDATE (11:23 a.m. EDT): Gold is taking quite a beating today after spiking as high as 1366.00 near the opening.  Downside Hiiden Pivots all the way up to the hourly charts are getting pulped, so any bottom-fishing at the ‘d’ targets of downtrends should be done via camouflage. A good place to look for it, as of this moment, would be 1327.90FYI, ace Pivoteer Steve Scheler found the “solution” to today’s 1366.00 high by using a 240-minute chart.  The following coordinates — no stretch at all, visually —  nailed the top within a single tick: A=1211.70 (8/24); B=1301.60 (9/24); and C=1276.20 (9/28). There was even a stall within less than $1 of the Hidden Pivot midpoint.