This could be an important day for gold, since only a modest rally is needed to generate the first bullish impulse leg we’ve seen on the daily chart in two months. Specifically, the futures would need to surpass the 1619.70 ‘external’ peak that I’ve labeled. If and when that happens, you should be prepared to zoom down to the 1- or 3-minute chart to get long on the first x signal that occurs. The breakout could turn this vehicle a little wild for a while, but the purpose of the camo entry would be to take a small stake, then to lower its cost basis by taking a small profit on three-fourths of the initial position. Please let me know in the chat room if you fill this order, since I will establish tracking guidance if at least two traders indicate that they have gotten aboard. ________ UPDATE (March 21, 4:20 a.m.): Buyers flunked the test, but perhaps they’ll do better today after a good night’s rest.
