I opened a virtual classroom yesterday when February Gold developed a tradable pattern in the early afternoon.  Subsequent price action met our expectations almost exactly, but that didn’t mean easy money for those who actually took the trade. Entry was triggered at 1647.00 shortly after noon Mountain Time (see inset), and I encouraged those in the room to initiate the trade, even if it rated only a ‘six’ on a one-to-ten scale of desirability.

At the time, I warned that it might take patience for the futures to hit the 1648.10 midpoint pivot where we could take profits on half of the position. In fact, it wasn’t until 80 minutes later that this occurred.  From there, it was another three-and-a-half hours before the rally finally hit the target 1650.40. Now, as I write these words, bulls are lifting February Gold above the target, suggesting that the target of a larger pattern is in play.  In fact, there is one at 1655.20 that we can use now that the futures have pushed above its midpoint sibling at 1652.90 (3-min, A=1648.50 at 7:06 p.m. EST; B=1653.10 at 7:18 p.m., and C=1650.60).  You can learn to do this stuff yourself, and it’s easier than you might think. Click here for information about the upcoming Hidden Pivot Webinar.