August Gold is flatlining Wednesday night following a moderate correction of a $17 rally earlier in the day. For the benefit of all subscribers, I’ll repeat the advice I proffered during the weekly tutorial session yesterday: Traders looking to get long can use a conventional signal generated by the pattern shown, but I’d suggest initiating via camouflage on a chart of much smaller degree — perhaps the two-minute bar chart. My gut is telling me the rally will have a follow-through; however, getting off the launcher may require a fake-out point ‘C’ low or two (or three). That’s why I’m suggesting camouflage. You should also be prepared to use a ‘timed buy-stop’ entry on the big pattern if its point ‘x’ is hit on a sudden upthrust that comes during a quiet period.
