You can see in the hourly chart (inset) just how far DIA is likely to fall if the dam gives way. Friday’s finishing stroke was bearishly impulsive to begin with, and so the 127.05 target of the pattern shown hardly seems out of line. The p midpoint at 129.02 has already been breached, but not by enough to make the plunge a done deal. _______ UPDATE (January 3 at 2:06 a.m. EST): A powerful reversal from well above 127.05 has put this vehicle on track to hit 134.89. This outcome would appear all but certain, judging from the way DIA gapped up through the 131.72 midpoint resistance of the pattern shown. The target can be used to get long now, or short soon, but camouflage will be tricky to find on the last leg up, given the runaway power of this move. _______ UPDATE (January 15 at 11:26 p.m. EST): Twelve days later, DIA did indeed hit 134.89. It actually topped 11 cents higher than that before DaSleazeballs pulled out the rug the next day with a gap-down print at 134.24 on the opening. This brazen shakeout was followed by a rip-roaring rally that began on the next bar. Now, I expect buyers to push this hot little mama to the 137.71 target of the pattern shown. Camouflageurs will need a deft touch to go with the flow.
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 laser-like 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, May 10. Click below to register or get more information.
This 9-minute video explains Rick's trading and forcasting method.
‘The Only Way to Make Money This Year’
The Irresistible Power of Funny Money
Shakedown in MSFT and GOOGL
Color Me Skeptical
Another Surreal Day on Wall Street
Non-News from Doha Stokes Short-Covering Surge
Deflation’s Chinese Water Torture
S&Ps Stalled at a Very Crucial Threshold
The Latest from a Bullish Bear
Bears Remain an Unstoppable Source of Buying Power