All signs point higher at the moment, with several bullish patterns working in concert to drive the rally. Most ambitious among them is the pattern shown, which projects to 606.08. Its ‘p’ midpoint lies at 589.17, which implies that yesterday’s oscillations around that number are a consolidation — a tradable one well suited to camouflage tactics. A move to the target, presumably precisely, is not in doubt because of the way the stock gapped above the midpoint on yesterday’s opening. Camouflageurs looking for a way in should zoom down to the 3-minute chart, where a small peak at 592.25 (11:12 a.m. EST Thursday) could prove most useful. _______ UPDATE (December 2, 6:28 p.m. EST): I’ve refreshed the chart so that ‘camo’ traders can see a recent, long entry opportunity in the perspective of the one-minute bars. Theoretical risk here — i.e., the distance between ‘C’ and the ‘x’ entry point — is 40 cents, but you could have cut that down significantly by using a ‘timed buy-stop’ to initiate the trade. This implies getting long at ‘x’, but sticking with the position only if it is in-the-black within the allotted time — say, 30 seconds. I should note as well that although this particular trade would have been enticing intraday, the fact that it was signaled with just minutes left in the session on a Friday made it too risky, at least for my taste. Even so, we shouldn’t lose sight of the potential reward, a trip on the northbound express to as high as 606.08.
Comments on this entry are closed.
Click here for a special deal for graduates of the Hidden Pivot Course who want to stay on the cutting edge
The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.
Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.
Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.
The three-hour Hidden Pivot Course is offered live each month. If it’s more convenient, you can take it in recorded form at your leisure, as many times as you like. The course fee includes “live” trading sessions (as opposed to hypothetical ‘chalk-talk’) every Wednesday morning, access to hundreds of recorded hours of tutorial sessions, and access to an online library that will help you achieve black-belt mastery of Hidden Pivot trading techniques.
The next webinar will be held on Tuesday, August 16. Click below to register or get more information.
This 9-minute video explains Rick's trading and forcasting method.
Rick takes requests on ACAD,GDX,CXRX,SPX,FFMGF,FNV,GCQ6,SSPXFDNCVF,TLT,VVR and AG
(July 18, 2016)
Trading ‘Touts’ for Monday…
The Yellow Flag Is Out
A Minor Breakdown in Gold?
The Seductions of a 50-50 Bet
Lousy Earnings No Obstacle for This Bull
Has Credit Stimulus Finally Met Its Match?
Laurel and Hardy Comin’ at Ya, Fed-Style
Wishy-Washy Crude Lulls Stocks
T-Bond Rally at an Important Target
Beware of a Fleeting Lapse into Sanity