Month’s Theme: An important support level highlighted. We’ll also have sideways rotation and a rise to meet key resistance before falling back down and then continuing to rotate sideways.
Behavior Around the High: The highest high is likely between the 1st and the 5th.
Behavior Around the Low: There’s a strong probability being between the 20th and the 22nd.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position in the midst of a trough toward the end of the day on the 1st. I would close that at the end of the day on the 4th.
An opportunity to open a long position on the 13th and then close it on the 15th.
An opportunity to open a partial short position at a peak on the 15th and then open the rest of the position on the 18th.
An opportunity to close a long position and/or open a short position on the 18th. I would close the short position on the 20th.
An opportunity to open part of a long position at the end of the day on the 22nd and the rest of the position if we open lower on the 26th.
Overview
On the 1st, we’ll have a rally along a diagonal trend line where we’ll break through horizontal resistance with a fast, sudden move higher and then we’ll break down through that diagonal trend line with increasing volatility on the way down. There’s a trade opportunity to open a long position in the midst of a trough toward the end of the day. You could likely close that on the 4th. You could also open a short position after closing the long position. I would close the short position on the 6th within a period of sideways rotation. There are notable price swings on a multi-day scale on the 7th. On the 8th, there’s a significant move higher out of a decline, even in the face of seemingly overwhelming headwinds.
There’s a pretty notable move to the upside over the weekend. We’ll have sideways fluidity on the 11th with equal amounts of inflow and outflow. There’s also a notable decline on the 11th. On the 12th, there’s an important trough. We’ll rally into key resistance on a multi-day scale and then decline with consecutively lower spikes up on the way down into a trough. On the 13th, there’s an important resistance level highlighted. On the 14th, there’s a peak that we’ll sell off from pretty notably. On the 15th, there’s a big move to the upside reaching for distant resistance.
On the 18th, there’s a move to the upside offering an opportunity to close a long position and/or open a short position. You could close the short position on the 20th in the midst of a decline. There’s a rally into resistance on the 21st that we expect to break through, however we’ll turn around and decline. We may move even lower on the 22nd. At the end of the day on the 22nd you could open part of a long position. If we open lower the morning of the 26th you could open the remainder of the long position. If we open higher I would close the long position. If you buy and hold on the 26th, you could close on the 28th.
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