ESU10 – September E-Mini S&P (Last:1076.75)

September E-Mini S&P (ESU10) price chart with targetsThe rally appears to be targeted on a Hidden Pivot resistance well above, at  1108.25, but it’ll first have to clear a midpoint resistance at 1081.25 that stopped yesterday’s bunny-hop cold. The upthrust was not as feeble as it first appears, however, since, as you can see in the accompanying chart, it took out a look-to-the-left-peak that is well concealed within a three-day supply zone recorded weeks earlier.  My hunch is that an ‘X entry will work for getting long, but I am unwilling to risk the implied 3.75-point stop-loss. Instead, if the trade triggers, I’ll suggest cutting the risk down to size by using whatever camouflage may be afforded by a lesser chart; or by using a “time stop” to exit the trade if it doesn’t take off right away.  If ‘X’ is triggered before the opening bell, however, you should simply get long conventionally and follow Lindsay’s rules.  As you will likely have inferred, this trade is for experienced Pivoteers. _______ UPDATE (9:47 a.m. EDT): The trade could not have worked out more perfectly for night owls, since it precisely matched the one I’d sketched out in the chart.  Entry was triggered at 1077.00 around 3:30 a.m. , and four hours later, without having tripped a trailing-stop exit from the 1080.75 midpoint on up,  the futures topped a single tick from the 1088.50 target. The threoretical gain per contact would have been $550.