The pattern shown is the one to use if you’re masochist enough to trade this dirge. The futures have made zero headway over the past week, challenging the patience of all but the nimblest scalpers. Despite the lack of upward progress, the December contract tripped a ‘mechanical’ buy signal when it fell back to the green line on Wednesday. Since the implied entry risk with a stop-loss below point ‘C’ would be almost $1300 per contract, I’d suggest whittling it down to size using a ‘camouflage’ set-up on charts of 5-minute degree or less. Tune to the chat room for guidance in real time, since there are a few traders who have been following this vehicle closely.
