DaBoyz have popped a feisty short squeeze off a low marginally beneath the previous day’s 80.01 bottom. That’s the way it’s done, and because it will have caught many bears unawares, the rally could go a ways before sputtering out. For starters, and with the suggestion that traders position from the long side for now, we should see an ascent to the 84.82 midpoint pivot overnight. (This number would change, however, if the point C low of the pattern, 82.89, is taken out first). An easy move through 84.82 it would imply more upside over the near term to as high as 87.34. For purposes of getting aboard, I’d suggest employing the ‘camouflage’ technique. This would entail using an entry signal on any minor, bc-type pullback form just above either of the two labeled peaks.
