Getting aboard yesterday’s explosive rally proved so difficult that higher prices over the near-term would seem very likely. The intraday high capped a strongly impulsive A-B rally, which means the pullback currently under way should be bought. But how? My suggestion is to take the first signaled ‘x’ entry (see inset), but to do so with a ‘timed’ buy-stop that will take you out of the position if it doesn’t perform quickly (i.e., with 30-60 seconds). If too many bulls start to weigh this vehicle down and it sinks to a second point ‘C’, look for your camouflage buying opportunity on the 15-minute chart or less.
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