The futures played toe-sies yesterday with a Hidden Pivot resistance at 35.010, presumably marking time while Gold recovers its footing. The gratuitous chop did nothing to alter the short-term picture, although the intraday peak brought the futures a little closer to late October’s challenging peaks. Note that one of them, at 35.450, is the kind that we thrive on, since a thrust exceeding it slightly, followed by a b-c pullback similar to the one shown, could provide an excellent opportunity to get long with relatively little risk. My hunch is that such an opportunity would come and go quickly, and that is why I am recommending a timed buy-stop entry. That means that if and when you are triggered long at an ‘x’ entry point similar to the one shown, you need only stick with the position for perhaps 60 seconds to determine whether it is going to go quickly your way.
