Bulls have been taking the measure of the 2000 barrier all week, but we shouldn’t assume that this ostensibly daunting obstacle will stymie them for long. More likely is that they will muster at least the energy needed to push up to the 2009.00 target shown. It can be shorted with a very tight stop, preferably using the ‘camouflage’ technique, but be aware that a lesser Hidden Pivot at 2005.50 could also show tradable stopping power. A three-tick stop-loss should suffice for the latter, but you’ll be on your own if it fills. For starters, though, if you’ve risked three ticks initially, you’ll need to take a partial profit if the trade goes nine ticks your way. If you’ve shorted only a single contract, a trailing stop would be appropriate. Alternatively, a plunge touching 1981.25 would turn the hourly chart bearish, auguring a squall or worse.
