Tuesday, 27 August 2013

Trading Tout: Another Plunge Just Ahead?

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Actionable Advice for Wednesday, August 28

$ ESU13 – September E-Mini S&P (Last:1628.25)

August 28, 2013 7:08 am GMT

The futures were  pussyfooting early Wednesday morning, reluctant to dive to the next Hidden Pivot target, 1605.75, unless pushed from the ledge. Judging from tonight’s pathetic failure to climb back up to what had been a midpoint support, my guess is that the plunge, equivalent to 200 Dow points, will be over by the opening bell or not long thereafter. Night owls should therefore look for shortable patterns  on the 5-minute chart or less, but I’ll also suggest bottom-fishing with ‘camouflage’ if 1605.75 is closely approached. If you want to see exactly the type of short-able ABC I’m talking about, check out this comely ‘camo’ pattern, which triggered on the 5-minute chart less than 20 minutes ago:  A=1632.50 (10:55 p.m. EDT); B=1628.75 (12:05 a.m.); and C=1630.75  (12:25 a.m.).. Click here to learn how you can reduce entry risk by using the ‘camouflage’ trading technique.

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