Buyers have managed to push the futures to the midpoint resistance of the pattern discussed here yesterday, but the action at the red line is too timid to offer any assurance that the 1302.80 target with which it is associated will be reached. Regardless, because the rally refreshed the bullish impulsiveness of the lesser charts, it should be traded with a bullish bias. This implies entry at an ‘x’ trigger such as the one shown. Because the theoretical entry risk would be around 1.80, though, you’ll need to initiate the trade, camouflage-style, at the point ‘x’ of an even smaller pattern. My guess is that you may need to drill down to the 15- or 30-second chart to find the opportunity you’re looking for. _______ UPDATE (10:51 a.m. EDT): On the 3-minute chart, the first ‘camouflage’ entry trigger that perfectly met our criteria occurred at 3:21 a.m.: 1278.80. The initial theoretical risk was 1.20, but one could have reduced it to as little as 0.30 on charts of sub-minute degree. If at least two fills are reported in the chat room, I’ll establish tracking guidance.
