On the basis of the pattern shown, Feb Crude seems likely not only to achieve the 36.98 target shown, but to take a robust and potentially tradable bounce from it. Accordingly, I’ll suggest bottom-fishing with a 37.01 bid and a stop-loss of at least 21 cents. That’s wider than we use to trade most other vehicles, and it may be more than ample to get you aboard. But if you want to cut the initial risk even more, using the ‘camouflage’ technique is the way to do it. This would entail generating an entry signal on a chart of much lower degree — i.e., the three-minute bars or less —  using the first minor, uptrending abc pattern that meets our criteria. For pointers in real time, just ask in the chat room. ______ UPDATE (1o:56 a.m. EST): The point ‘A’ high I used above to project a 36.98 target is not of the highest quality. I am going to suggest a more promising pattern on the 60-minute chart for purposes of bottom-fishing: A=43.37 on 12/4; B=38.29 on 12/8. It yields a p2 target at 36.53 that is very likely to be reached, considering how sellers smashed the 37.80 midpoint support this morning. P2 should provide a tradable bounce, although the usual caveat applies: if it fails, look for ‘D’ — in this case, 35.26 — to be reached. If you’ve made money on the way down — my forecasts have been relentlessly bearish — treat yourself to a wide stop-loss when bottom-fishing. _____UPDATE (December 14, 10:10 p.m.): I’d warned that the short-squeeze rallies in crude would be especially vicious because ‘everyone’ is short. This rally will be yet one more squeeze, but we needn’t take it seriously until such time as it exceeds the 43.37 peak recorded on December 4. _______ UPDATE (December 20, 8:22 p.m.):  A chat-room denizen has identified a very promising pattern that looks likely to deliver a precise low at 34.89 (see inset).  The corresponding target for the January contract is 33.42. A ‘mechanical’ short from the midpoint pivot of either contract would have produced a quick gain of more than $1100 per contract.  The respective p2 ‘secondary’ pivots can still be used for shorting ‘mechanically’ — and yes, you can bottom-fish either ‘D’ target aggressively if you’ve been short on the way to it._______UPDATE (December 24): Crude reversed and headed higher after it was reported that U.S. inventories fell slightly, so our short never triggered. I have serious doubts that the rally will get very far.