Month’s Theme: Bullish behavior.
Behavior Around the High: A failed attempt to break through key resistance followed by a decline through key support on a multi-day scale.
Behavior Around the Low: The completion of a rally followed by a decline through key support on a multi-day scale.
Trade Opportunities
An opportunity to get into 50% of a short position on the 3rd at a resistance level on a multi-day scale.
An opportunity to open a long position on the 10th.
An opportunity to open a long position on the 13th.
Overview
There’s resistance highlighted on a multi-day scale on the 1st, 2nd, and the 3rd. There’s a trough at the end of the day on the 2nd as well as on the 3rd. There may be a highest high on the 3rd and if it’s not on the third it’ll be on the 7th. We’ll decline pretty notably from the 7th into the 8th. I would exit a short position here. There’s the bottom of a range highlighted on the 8th and a range highlighted on the 9th. The 10th and the 13th offer an opportunity to open a long position. You could open 50% of a long position on the 13th.
Comments