Month’s Theme: A rally into key resistance on a multi-day scale that we’ll break down from with consecutively lower spikes up on the way down. That’s crossed with sideways rotation on a multi-day scale where we’ll rise to meet the nearest resistance and then fall back down to continue rotation along support.
Behavior Around the High: Price swings around the high.
Behavior Around the Low: A period of decline that ends with a fast, sudden move higher.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position before a big move higher on the 2nd. You could close that either at the end of the day or after a fast, sudden move higher on the 3rd.
An opportunity to open a long position on the 6th toward the end of the day or early in the day on the 7th.
An opportunity to close out of a long position and open a short position on the 8th.
Overview
On the 1st, we’ll have a rally along a diagonal trend line that ends with a fast, sudden move higher and then a breakdown through that diagonal trend line. On the 2nd, there’s an important support level highlighted. There’s a lot of price change and a prominent trough as well as a prominent peak. On the 3rd, there’s a fast, sudden move higher on a multi-day scale. On the 4th, we’ll have a failed attempt to break through key resistance followed by a decline through key support. On the 5th, there’s a notable move higher followed by a full retracement of that move back down. On the 6th, there’s a failed attempt to break through key resistance on a multi-day scale followed by a decline through key support. There’s an opportunity to open a short position on the 6th. On the 7th, there’s a big move out of a decline from the bottom of a range to the top of a range.
On the 8th, we’ll revisit a recent high. You could close out of a long position and open a short position on the 8th. There’s a significant move to the downside off of that high on the 8th.
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