A longstanding downside target at 1817.00 remains valid, although last week’s timid rally may have further to go before the correction has run its course, especially if crude oil prices rally this week. The futures would become a ‘mechanical’ short from p2=1888.50, stop 1897.75, but we can reduce the initial risk significantly by using a ‘camouflage’ entry once 1888.50 is touched. This implies waiting for a downtrending, tradable abc pattern to develop on a chart of minor degree. The tactic is recommended only to those who are familiar with it, but you can seek real-time guidance in the chat room if the opportunity develops. Another possibility would be to short the minor rally target show in the inset, although it may prove to be too delicate if the new week starts with a bang. One further possibility: Ahead of the short trade, night owls can use the ‘camouflage’ pattern shown to get long at ‘x’ if the set-up ripens more or less as drawn. ______ UPDATE (1:45 a.m.): See my 21:09 post in the chat room for timely guidance on this rally.
