October 26th, 2014
Published Daily

SIH13 – March Silver (Last:33.090)

by Rick Ackerman on December 7, 2012 4:26 am GMT

It’s bullish that the futures reversed strongly enough yesterday to generate a bullish impulse leg on the hourly chart without have reached the 32.115 downside target flagged here. Moreover, the rally is just shy of triggering a buy signal at 33.180. If that price is hit today, I’d suggest using an ABCD pattern on the one-minute chart to get aboard via camouflage.  This set-up looks quite promising in that it seems likely to lift the nimble camouflageur at least to the ‘p’ midpoint of the traded pattern.  Night owls will need to be alert, however, since the opportunity could come before morning. _______ UPDATE (2:20 a.m. EST): The futures first touched 33.180 exactly two hours and 42 minutes ago, but they are only now generating the first tradable ‘camouflage’ pattern with the potential to conform to our rules. On the three-minute chart, here are the coordinates you might use to get long: A=33.110 at 2:03 a.m.; B=33.150 at 2:12 a.m.; and C=?  So far, at exactly 2:21:46, C is a double-bar low at 33.120, making the pattern untradable if played strictly by-the-book.  If you can follow this update up to this point, you don’t need me to tell you what to do. _______ FURTHER UPDATE (2:26 a.m. EST): The futures seem heavy, and not just a little nasty. Under the circumstances, you should initiate the trade using camouflage only if all of our rules are perfectly met. As of 2:51 a.m., that would imply a rally on the 3-minute that is unpaused between 31.150 and 33.205.  These prices points correspond to ‘external’ peaks. Click here if you want to learn more about ‘camouflage’ trading, a technique developed to reduce entry risk very significantly.

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