The rally broke through a minor midpoint resistance at 29.410 around mid-morning, shortening the odds of a follow-through burst to its ‘D’ sibling at 30.135. The best low-risk buying opportunity night owls are likely to see would come following a b-c pullback from between peaks #1 and #2, or #2 and #3. Take the trade if you can whittle theoretical entry risk down to $60 per contract or less. _______ UPDATE (8:44 a.m. EST): There was camouflage to be had, and although the trade could have produced again of as much as $3975, the joy-ride would have been short-lived, since the futures relapsed a whopping $1.08 overnight. For your interest, the entry pattern used the single-bar coordinates, on the 5-minute chart, A=29.720, B=29.895, C-=29.750, for X=29.795, p=29.840, and D=29.925. The hypothetical $3975 profit assumes four contracts bought at X, with the last one disgorged at the overnight top, 30.210. The profit would have been far less — $1650 — if you’d exited, not at the top, but on an impulse-leg stop-loss at 29.745.
