Gold’s stall almost precisely at the 1325.00 midpoint Hidden Pivot shown implies it will go to at least 1368.90 once past it. Since there will be three bullish ABC patterns driving the rally at that point, you should use an entry signal generated by the small pattern to get long — preferably via camouflage, since the initial risk otherwise would be at least $5 (from A) and as much as $10 (from A2). For night owls, I’ll make an additional suggestion: Get long at the 1299.00 D target, on the 15-minute chart, of a= 1320.50 ( August 8 at 6:45 a.m.); b= 1305.70 at 8:45 a.m.) Some very precise bounces so far from p=1306.40 suggest the futures will fall to exactly 1299.00 if p is decisively breached. _______ UPDATE (August 12, 10:30 a.m.): Gold has rallied moderately, albeit from a 1306.80 low that negated the bottom-fishing tactic suggested above. Next stop on the way up should be 1327.00, but if the futures blow past it, expect 1341.00. These targets come, respectively, from A and A2 in the chart.
