Month’s Theme: Multiple failed attempts to break through key resistance. That’s crossed with sideways rotation that ends with a fast, sudden move higher.
Behavior Around the High: An important range highlighted that we’re bound by.
Behavior Around the Low: A crest that we sell off from down to and through support.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position in the midst of a trough on the 3rd. There’s a brief peak on the 4th where you could close that long position.
An opportunity to open a short position at an overbought peak or crest on the 7th. I would close that around the cusp of the 9th/10th.
An opportunity to close a long position and open a short position on the 13th. I would hold the short position until the afternoon on the 17th.
An opportunity to open a long position or close a short position on the 21st. You could close the long position at the end of the day for a day trade or at the end of the day on the 24th.
Overview
There’s a peak on the 1st and we’ll decline from that peak into the 2nd. There’s a trough between the 2nd and the 3rd. There’s sideways rotation on the 3rd. There’s a decline on the 4th that ends with a fast, sudden move higher. There’s a prominent move higher on the 5th followed by a full retracement back down into a prominent trough. There’s a big move out of the low on the 6th into an overbought peak or crest on the 7th.
There’s a sharp drop on the 9th and a highest probable location of a low on the cusp of the 9th/10th. There’s then a big move higher out of that low. There’s some sort of fake out on the 11th. There are three crisscrosses back and forth through the same price level on the 12th. On the 13th, there’s a bit of decline in the morning and a trade opportunity at a trough. There’s then a big move higher into the end of the day into a prominent peak or crest. You could close out of a long position and open a short position there.
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