Late Tuesday night, gold was getting pounded again, off $16 from the regular-session close. The so-far low is 1291.50, just a single tick from the 1291.40 target shown. Although this was a good a place in theory to attempt bottom-fishing, the pivot looked too delicate for an all-in bet. (Why delicate?  Because if we had used the picture-perfect one-off ‘A’ at 1334.80 to generate a target, our maximum downside projection for this down-cycle would have been 1292.60 rather than 1291.40, and that would have meant the selloff overshot the target by $2.10 rather than falling a dime short of it.) In any case, traders may have a second chance to get long with little risk on a ‘b-c’ pullback from just above the external peak (see inset) at 1296.00. Keep in mind that a bigger picture — i.e., the weekly chart — will remain correctively bullish down to 1271.80. _______ UPDATE (11:31 p.m. EDT): On the three-minute chart, the entry trigger came at 1296.70, at about 10:54 p.m. The rally subsequently surpassed p=1297.80, leaving you long (in theory) two contracts for a shot at D=1300.00 (where one more contract should be exited). I’m not going to assume any fills here, but if you attempted the trade please let me know in the chat room so that I can get an idea of how many subscribers are out there waiting for these morsels. [Further update, 12:57 a.m.: The futures failed to reach D, falling to what would have been a nearly-break-even stop at 1296.50.] _______ UPDATE (3:39 p.m. EDT): With no Fed tapeworm in sight, the futures have blasted off after bottoming a dime from the target given above. Now, if the December contract pushes easily past the 1372.60 midpoint resistance tonight or tomorrow as we should expect, you can count on more upside over the near term to at least 1453.70. The relevant pattern, on the weekly chart, is A=1271.80  (8/9), B=1434.00 (8/30), and C=1291.50 (9/20).