*Accuracy rating update: 100% or 12/12 predictions correct*
Day’s theme: The halting of a bullish trend marked by a decline through a key support level on a multi-day chart.
Behavior around the high: I’m advised to open up protection around the high.
Behavior around the low: N/A
Trade opportunities:
An opportunity to open a long position for a quick day trade at some point around the open.
A key trade opportunity in the midst of a decline midday. that continues until the last hour of trading.
Overview:
On December 1st, there’s a key resistance level in the midst of some volatility in the pre-market that offers an opportunity to open up both puts and calls. Around the open, volume and volatility will flatten out a bit. We’ll then see a notable decline on a one-day chart that offers an opportunity to open up a long position. This will likely be a quick scalp or day trade. We’ll go from a notable decline into some sideways fluctuations with a bullish trend. From there, we’ll move higher and hit key resistance around midmorning. I’m advised to close the long position around this key resistance level. This is followed by a move to the downside with consecutively lower spikes up on the way down.
We’ll see some sideways rotation along a key support level on a one-day chart midday. There’s a key trade opportunity in the midst of a decline that continues until the last hour of trading. There’s some sort of behavior in the last hour that’s intended to provoke impulsive decision making. There are multiple false tops around the close. There’s a prominent reversal in the post-market or overnight.
Sneak preview:
A move higher through resistance on the 2nd. We stay above that resistance level briefly and then come back down through that same price level with a full retracement.
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