*Accuracy rating update: 85% or 11/13 predictions correct*
Theme:
There’s something to do with congress highlighted toward the end of the day. We’ll also see a notable drop off of the high at the end of the day. Around the high, there’s a brief trading opportunity before a decline that goes through multiple support levels. Out of the low, we’ll see the beginning of a notable rally. I’m advised to trade around a decline to and through a support level. We then return back to that support level and reuse it.
Overview:
On October 4, 2022, we have a rally along a diagonal trend line in the pre-market that ends with a fast, sudden move higher. This is followed by a break down through that diagonal trend line with increasing volatility on the way down. Somewhere around the open, we’ll see sideways fluidity along a support level with equal amounts of bulls and bears trading. A male ruler of nations, possibly the president, is highlighted in the first half hour. The decline in the pre-market continues into a low roughly between 10:00 a.m. and 11:30 a.m. Out of that low, there’s a big move to the upside to reach a distant resistance level, and it looks like we have a crest around 11:00 a.m. We then have a reversal between 11:00 a.m. and 12:00 p.m. That reversal takes us back down to a low between 12:00 p.m. and 1:00 p.m. There’s a notable move to the upside out of the low after bumping up along resistance for a bit.
Between 1:00 p.m. and 2:00 p.m., we’ll see a notable drop. This is followed by a notable rally somewhere between 2:00 p.m. and close. This rally is significant and will likely stand out on a multi-day chart. There’s a possibility of another day’s low in the last hour. Right around the close, there’s an opportunity to open up a position in both directions.
Sneak preview:
A notable decline.
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