We looked at this vehicle during yesterday’s impromptu trading session and found reasons to like the long side of the trade. For your guidance, I’ve reproduced a 5-minute chart that shows exactly the kind of opportunity that camouflageurs should look for. The tight spacing between the two labeled peaks — one of them internal, the other external — is ideal for the creation of the very subtle impulse legs that we prefer for purposes of initiating trades. _______ UPDATE (6:55 p.m. EDT): There were several entry opportunities overnight similar to the one shown, and all would have worked. Things went nut-so when the regular session opened, however, suggesting that night owls may have an easier time of it trading this vehicle.
