Hidden Pivots aside, and notwithstanding the 1709.20 target I’ve been drum-rolling here and in the chat room for the last week or so, it would be just like this vehicle to dip ever so slightly beneath the visually compelling bottom at 1705.40 recorded on August 25 before taking flight. In any event, camouflageurs looking to get long should be on high alert with December Gold trading anywhere from 1695 to 1712, since a tradable turn from somewhere within that range, if not from the Hidden Pivot itself, seems both psychologically compelling and technically likely. _______ UPDATE (12:04 p.m. EDT): Sellers have crushed the 1709.20 support and gone on to exceed, just moments ago, the 1662.80 downside target of a lesser pattern (hourly chart, A=1818.30 on 9/21). Because the pattern that produced the target is so clear, its breach spells still lower prices, although not necessarily much lower. With all corrective Hidden Pivot patterns on the daily chart now spent, we can use a 0.618 retracement of the bull leg from the July 1 low as a target. The Fibo support lies at 1647.01, $10 beneath today’s so far low.
