Day’s Theme: Three crisscrosses through the same price level confirming a bullish trend.
Behavior Around the High: The halting of a bullish trend marked by a decline through key support.
Behavior Around the Low: A move to the upside out of the low, successfully turning resistance into new support.
Exclusive Trade Opportunities for Subscribers:
I’m advised to trade around the establishment of support with some sideways rotation followed by a prominent move to the upside.
An opportunity to open a long position in the morning. I would close that at a crest either between 11:00 and noon or at the end of the day in the midst of a rally higher.
An opportunity to open a short position at the end of the day.
Overview
On July 11th, we’ll open lower. In the pre-market, there’s a crest that forms with a move higher through resistance. We’ll stay above it briefly and then break back down. There’s a sharp drop around the open taking us into some sideways rotation in the first half hour. That rotation ends with a fast, sudden move higher. Between 10:00 and 11:00 we’ll have sideways fluidity with equal amounts of bulls and bears trading. Between 11:00 and noon, we’ll sell down to a support level that we recently met before.
Between noon and 1:00, that move higher ends with a decline. There’s an important reversal on a one-day scale between 2:00 and 3:00. There’s an opportunity to open a long position around 2:45 with a sharp drop in the last hour followed by a prominent move to the upside.
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