$+GCM26 – June Gold (Last:4462.8050)

If you got long at or near the green line as I advised here last week, your theoretical, unrealized profit on the standard four contracts would be around $71,000 — more than enough to pay for your subscription and a luxurious week in your favorite destination. Typically, I advise taking off half the position at the midpoint Hidden Pivot, shown here as a red line at 4636.80. At that point, you would have a realized gain of slightly more than $50,000; plus, two contracts left, each showing an unrealized gain of about $25,000, for swing at the fences. The 5144.00 rally target we’ve been using for months will remain valid unless the pattern’s point ‘c’ low is violated first. But, yes, you’re right: Who cares, as long as we can continue to exploit this tired pattern for all it’s worth. ______ UPDATE (Jun 1, 9:52 a.m.): Easy come, easy go. A ‘dynamic stop’-loss set at 1:3 would have stopped out the trade at 4576 for a fat gain, and an ‘impulsive’ stop on the hourly chart would have done the job at 4512. However, I will continue to track the position as though bulls are still holding the bag, frozen with fear by this morning’s gratuitous plunge. Both of these risk-management tactics are covered in the Hidden Pivot Course I’ve made available free to subscribers. I will switch to the August contract shortly.