GCZ12 – December Gold (Last:1774.30)

An 1808.30 rally target flagged here earlier is still very much in play. The 60-minute chart (see inset) shows the larger pattern that produced it, but also some minor external peaks whose breach, especially by an uncorrected thrust, would telegraph the final stage of the move.  Camouflageurs should look to get long on a pullback from above peak #2 (1781.40).  _______ UPDATE (10:37 a.m. EDT):  Using the one-minute chart and the advice above would have provided a nearly perfect entry opportunity off the following pattern:  A=11787.70 (8:40 a.m.); B=1782.80 (8:42 a.m.); and C=1780.90 (8:44 a.m.).  _______ UPDATE (October 2, 8:07 p.m. EDT): Night owls can try bottom-fishing the 1771.30 target shown with a stop-loss at 1770.90. This Hidden Pivot support is not quite perfection, since it coincides on the lesser charts with a visually obvious accumulation zone created on Monday, but it looks good enough to use without camouflage if theoretical risk can be held to just a few ticks. _______ UPDATE October 5): The futures dipped no lower than 1772.30, stranding our bid.  The fact that the pullback did not quite reach the target is a mildly bullish sign going forward.