The pattern shown has the kind of sinewy gracefulness that tends to produce accurate price targets. If so, the decisive breach of the 2053.75 midpoint pivot implies more downside to at least p2=2039.00, or perhaps to D=2024.50 if any lower. Each of these Hidden Pivots is tradable in theory, meaning you could short p if a retracement rally to it meets our criteria for a ‘mechanical’ trade. Less labor-intensive would be bottom-fishing p2 or D with a tight stop-loss. How tight? I’d suggest five ticks, but you could step up position size if you are able to use ‘camouflage’ to get aboard.
