The camo set-up shown came up during yesterday’s impromptu session online, flagged by a subscriber. Notice how the peak of the rally exceeded external peak #1 but not the ‘marquee high at 41.90. The power and promise of the thrust will be masked to most other traders, but not to us. Accordingly, you should plan on getting long at the still-uncreated x using a chart of lesser degree — perhaps the 5-minute chart. The steepness of the rally may draw in a few more bulls than we should prefer, possibly generating a second point C, and that is why I’m suggesting a camouflage entry strategy. _______ UPDATE (1:50 p.m. EDT): I’ve just posted the following update in the chat room: On the hourly chart, the buy signal we were looking for was tripped at 41.55. Since entry was to have been accomplished on a chart of lesser degree, however, we still hold no position officially. The ‘camo’ opportunity is visible on the 2-minute chart in the form of a subtle external peak at 41.51 (11:08 a.m. EDT) that we can try to leverage.
