Wednesday’s pullback in the second half of the session may have disappointed bulls, but it left intact the promising pattern shown. With a near-term target at p2=1113.55, or 1127.70 if any higher, traders should maintain a bullish bias. Using the latter number, a Hidden Pivot, as a price objective, night owls can attempt a ‘mechanical’ entry by bidding at 1099.44, stop 1089.90. With a bit more work, it may be possible to cut the initial risk by as much as 90% by using a ‘camouflage’ entry from near p.
