HUI – Gold Bugs Index (Last:433.08)

EDT

The strong rally that unfolded over the summer was not impulsive on the weekly chart, and if you display it one the daily it becomes merely a “duel” between bulls and bears, with alternating impulse legs in either direction.  What this implies is that we shouldn’t get too excited if HUI embarks on a sharp rally over a stretch of perhaps 3-4 days.  Even so, we can treat the 491.04 p midpoint resistance of the pattern shown as real, and even look for a camouflage entry opportunity on the long side if it’s decisively penetrated.  If you’re not that patient, it will still be possible to enter more or less at will, leveraging bullish impulse legs on charts of lesser degree well before the midpoint is reached. Since the entry signal at x has already been tripped, your trading bias should be bullish anyway. _______ UPDATE (January 13 at 1:22 a.m. EST): After a pre-Christmas, whoopee cushion bounce from around 420, this vehicle settled back into a rut. Now, however, it is bullishly impulsive on the hourly chart, with immediate potential to 442.99 (see inset). This target will  become an odds-on bet if and when buyers push HUI past its sibling midpoint at 435.69.

Comments on this entry are closed.



Login



Start subscription
Lost my password

Seminar Information page.

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, August 25. Click below to register or get more information.

Knowledge Base Link

An introduction to the Hidden Pivot Method

This 9-minute video explains Rick's trading and forcasting method.

Rick's Picks Calendar