GCJ15 – April Gold (Last:1202.60)

Gold target can be bottom-fishedWe’ve been using an 1187.60 target to keep a step ahead of the bear, but the 1183.40 Hidden Pivot shown looks more compelling at this point. Accordingly, I’ll recommend  bottom-fishing with an 1182.90 stop-loss, but only if you’ve held a short position on the way down.  Camouflage is the suggested method of getting short, but if you prefer the simplicity of a ‘mechanical’ entry, offer at 1203.20, stop 1208.80, making the stop-loss o-c-o with a bid to cover the position at 1184.00. Optionally, you could try bottom-fishing at 1187.60 with a stop-loss as tight as 4 ticks.  Please report any fills in the chat room so that I can establish a tracking position for your further guidance. _______ UPDATE (Monday morning): Getting short at 1203.20 as suggested could have produced a gain per contract of as much as $1400, since the futures fell to 1190.60 overnight. A stop-loss as tight as $1.60 would have sufficed, since the futures went no higher overnight than 1204.70.