My most recent update for February Gold offered a minimum upside projection of 1219.40 over the near term, with a shot at 1268.00 if the futures can get past the lower number without difficulty. The chart shown zooms in on a piece of the expected rally small enough to provide a possible entry point with relative little risk. The pattern has already tripped an entry signal at 1195.70 for a short hop to 1199.10, the midpoint pivot. However, the initial theoretical risk of $480 is about ten times what we would ordinarily put at stake. Instead, I’ll suggest cutting the ante down to size by using a still-smaller pattern similar to the one shown to get aboard. _______ UPDATE (10:55 a.m.): The trade was a non-starter, since gold went lower overnight and has remained leaden this morning.