The futures spent the entire day meandering toward the unambitious target of the pattern shown. I’ve added a tiny ABC notation that captures a beautiful ‘camouflage’ set-up that occurred early in the session. It was worth an $800 ride on initial risk of about $150. So now what? The futures could stall here, but bears shouldn’t count on it. The next leg up should hit 2188.61, a ‘secondary’ Hidden Pivot resistance associated with a D target at 2202.31. Night owls can try getting long ‘mechanically’ on a pullback to the midpoint pivot, 2175.25, stop 2166.75. Here are the coordinates on the 15-minute chart if you want to recreate the pattern: A=2125.50 (11/9 at 10:30 a.m. ET); B=2180.50 (11/10); and C=2147.75. If you don’t mind a little work, you could cut the entry risk 90% or more by using a ‘camouflage’ trigger on the lesser charts after a retracement to 2175.25.
