I agree my long is aggressive but my stop is so tight if I "flatulate I'll blow my tennis shoes off". I'm looking at the same target B1S2 is at 65. I have a closer target too that must be violated as well. I just like the piggy play into the Holidays and I have made money on them, 9 out of the last ten years. It this entry is early, I will wait for another clear opportunity.
It appears that for today's action anyway, I am wrong(Dec Hogs). Not in though, so no big deal. Actually, I will watch this closely. If it doesn't violate 65.60, I may find a good place to get in short!.
I got my first target to the upside, 61.800. The next retest of 62.250 though, if it can't violate it I'll take my profit. You are correct though that 65.600 is THE ultimate target for this market.
I am going to drill down to the 15 minute chart and see if I am able to pick up a good double top or bearish divergence signal and go short for a longer term trade. If it doesn't show up, I'll pass for now.
This minor reaction low of 60.95 interests me a bit and I see the usual creeping up the 20 MA (15 min chart). Probably is a sell below 60.95 if no other signal arrives. Not in yet.
I took a look at the hourly chart and it certainly appears to have the old island reversal happening. However, I have decided to stay away after all. It's just not clear enough for me right now. I do see where the gap on daily charts being filled could pique my interest a bit more.