The large, bullish pattern shown projects to 166.52, but notice how the final hour of yesterday’s session was spent playing toe-sies with the midpoint pivot. Buyers did manage, however, to push this vehicle sufficiently above p to make the presumptive follow-through leg no worse than an even-odds bet. Accordingly, traders should use the small ABC pattern shown to initiate a long position via ‘camouflage’ (or your seat-of-the-pants version of it) when the entry signal is tripped. Please be aware that a lower point ‘C’ could occur, and that would lower the corresponding entry signal.
