The chat room has been quiet lately, sometimes with as many as 40 to 50 subscribers silently lurking from the sidelines.  Even so, the handful of active traders who are not there merely to watch have been calling profitable turns with enviable aplomb.  Yesterday, for instance, although this vehicle ended the day little changed, there were enough gratuitous ups and downs to provide a small but nourishing feast for anyone with the diligence and patience to harvest the opportunities thereof. In the course of the day, some subscribers played the upside, others the down, with both reporting success.

On the accompanying chart, I’ve labeled what looked  to be the two easiest trades of the day.  While a more lucrative gambit would have been to have gotten short in the first hour, this would not have been the lay-up we all hope for, since it is never easy to go with a trend that has developed sufficiently that everyone is aware of it. This was the case yesterday, since the futures had been ratcheting steadily lower after peaking overnight, hours before the NYSE opening.

Referencing the attached chart (see inset), buying at P1, a Hidden Pivot midpoint support, was the easiest trade of the day. Although it is in retrospect that I make this claim, it is a trade that I had actually flagged in the chat room before-the-fact.  It did not work out exactly as we might have hoped, however, since the futures reversed from a single tick above P1, stranding any bids that hewed precisely to my suggestion.

The second ‘easy’ trade came on the small pullback to P2.  That is the midpoint resistance of the uptrending pattern labeled ABC in purple. As is taught in the Hidden Pivot Webinar, this is the best place to buy belatedly if one has missed the initial entry signal below it.  Given the delicate gracefulness of the pattern, it was not surprising that the futures went on to reach the ‘D’ target of the ABC pattern to the exact penny. Reversing the position by getting short at ‘D’ would have made for a lovely trade, but for the fact that the target was achieved in the final minutes of the session.

If any of this interests you, and especially if you are looking to turn otherwise idle hours of the day into opportunity, join us in the chat room sometime. If I’m in there, I’ll be calling the turns and helping others to do the same.  A free two-week trial to Rick’s Picks is available by clicking here.