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.
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Tuesday, March 13, 2018
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.
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