GCM12 – June Gold (Last:1675.30)

June Gold (GCM12) price chart with targetsUsing the 180-minute chart, I’ve drawn a conventional trendline that can alert us to a bullish breakout before this vehicle exceeds the nearest ‘external’ peaks on the intraday charts. They are a hefty leap from current levels, as noted here yesterday, and that’s why I’m going to suggest using the trendline to time your camouflage entry. It will come in around 1663.90 on the first bar of the day, but you’ll need to draw your own line on a chart of lesser degree to estimate its slope precisely enough for ‘camo’ purposes. ______ UPDATE (11:53 a.m. EDT):  Much as a ballistic rally through a midpoint Hidden Pivot is especially bullish, so is one through a conventional trendline.  This one projects to at least 1683.30, implying that buyers will test supply near 1865, early April’s high.  Traders will want to note that the futures at this moment are trading just a millimeter shy of  the first of some ‘external’ peaks made April 3 that could be useful for camouflage.