At yesterday’s lows, the futures achieved a Hidden Pivot that we’ve been using at 30.18 that looks capable of generating a tradable bounce. Night owls should position accordingly, especially since crude is so oversold. The least risky way for getting aboard that I can suggest would be to use the 5-minute chart for a ‘camouflage’ entry. As of around 7:45 EST, there was one juicy ‘external’ peak available for this: 31.19, recorded at 10:35 a.m. Tuesday on the way down. A pullback from 0.05 or less above that peak would be just the opportunity we’re looking for, but because the trade could trigger quickly you’ll need to be alert._______ UPDATE (January 13, 9:24 a.m. EST): The trade triggered but looks like a push at this point. Entry would have been tripped at 31.27; then, out of half at 31.41, lowering the break-even to 31.14 for the remainder. There is no compelling reason to hold the position, since crude appears to be going nowhere fast. Our goal is to get aboard just ahead of significant moves, not to sit tight in consolidations/distributions.
