GCM11 – June Gold (Last:1516.90)

June Gold (GCM11) price chart with targetsTired action generated “dueling impulse legs” on the hourly chart yesterday, but the constipated behavior this is predicting for the near term would be negated by a pop today above 1526.80.  That would create a fresh, bullish impulse leg — and with it, perhaps, an opportunity to initiate a long position using the camouflage technique.   Even more bullish than a poke above 1526.80, however, would be a close above 1528.70, the Hidden Pivot midpoint of the pattern shown. Once it has been breached decisively, the futures will be an odds-on bet to continue up to 1594.90, its ‘D’ sibling.  (Want to learn how to do this, just like hundreds of students have done?  Click here for a free trial subscription to Rick’s Picks that will give you access to a 24/7 chat room that draws not only graduates of the Hidden Pivot course, but combat-hardened traders from around the world.)