CLF23 – January Crude (Last:74.27)

The modest reverse pattern shown (see inset) gives January Crude an easy path to at least 85.28, a Hidden Pivot resistance that looks obscure enough to short with a very tight stop-loss. An easier opportunity would come on a pullback to the green line (x=76.52), where you could bottom-fish with a tightly constructed ‘reverse’ pattern. The trade is likely to work best if the pullback is sharp and swift. It would require a stop-loss at 73.59, just beneath the pattern’s point C low. I have sketched the retracement with crude pulling back beneath the green line to remind you that it is neither a support nor a resistance, nor a target, nor even a Hidden Pivot (which will always be a p or D level). ________ UPDATE (Dec 6, 8:20): See my 13;22 post and follow-ups in the chat room for a detailed explanation of an on-demand trade that worked nicely in almost-real time. Here’s the chart