One step higher, three steps back. At this rate, it could take most of the week for December Gold to reach our aging target at 1254.10. Alternatively, if that Hidden Pivot resistance is brushed aside, look for a continuation of the three-week-old bull cycle to at least 1260.80. Expect a tradeable pullback from that number if it’s reached.  Even if it were certain the rally will achieve 1254.10 or higher, it is not tradeable if risk:reward is held constant at the 1:3 ratio I always advise. That’s because the $2-or-so additional theoretical profit possible at each new high is followed by a $15 swoon, effectively generating a risk:reward of 7:1._______ UPDATE (Oct 29, 6:36 p.m.): The 1226.00 downside target I posted in the Banter Room Monday afternoon caught the bottom of a so-far $6.60 rally within a single tick. Subscribers reported using the target to get long in the futures, but also in GLD, an ETF-based alternative. I will be spending more time in the Banter Room in order to pick up the tempo there. All subscribers are invited, but I have requested that anyone who visits the room — as opposed to the chat room, which is attracting mainly lurkers — post at least once per hour, or once per session if the post is actionable._______ UPDATE (Oct 30, 9:01): Gold is once again doing what it does best, disemboweling the faithful. The futures tripped a ‘mechanical’ short from 1227.70 that is doing nicely. Half should have been covered at p=1222.80, predicated on a 1212.80 target. Cover another 25% at p2=1217.80 against a 1232.80 stop-loss for the two contracts that remain._______ UPDATE (Oct 31, 9:07 a.m.): Because I have reverted enthusiastically to my gold-is-garbage mantra, it is a perfect time to be on alert to the possibility of a very strong rally. A logical place for it to begin would be at the 1212.80 downside target that currently obtains. _______ UPDATE (9:13 a.m.): Just as I was typing those words, the little piece of caca plunged anew, coming within 1.40 of my target. A ‘dynamic’ stop-loss would have popped you out of the short trade very profitably at 1214.70.