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.
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