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posted on 25 September 2017

Beware The Treachery Of An Old Bull

by Rick Ackerman, Rick's Picks

Much as I distrust this aging bull market and believe, as many of my colleagues evidently do, that it could collapse “any day now," I am nonetheless comfortable using the 2524.44 Hidden Pivot shown below as a minimum rally target.


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Because it is a ‘secondary’ pivot, a stall exactly at that price could activate ‘Matt’s Curse,’ sending the futures into a dive that presumably would exceed the pattern’s 2414.00 point ‘C’ low.

Click for large image.

We’ll watch closely if and when 2524.44 is approached.

More immediately, the December contract would become a theoretical ‘mechanical’ buy if it comes down to the red line (2487.63), a midpoint Hidden Pivot. Since the implied entry risk would be around $3700 per contract, I’ll suggest using a ‘camouflage’ entry trigger on the one- or three-minute chart to set up the trade. This would have the effect of limiting the initial risk to as little as $40-$60 per contract.

A less risky “mechanical’ entry would be signaled at the green line, but we’ll put that one on the back burner until after we’ve seen what happens at the midpoint pivot. Stay tuned to the chat room if you want to be apprised of such opportunities as develop in real time.

If you are not a subscriber, click here for a free two-week trial that will allow you to enter the Rick’s Picks chat room, where great traders from around the world swap ideas 24/7.

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