Day’s Theme: A near overbought crest or peak that we’ll sell off from.
Behavior Around the High: A sideways-fluctuating rally that precedes a decline.
Behavior Around the Low: Three crisscrosses back and forth through the same price level confirming a bullish trend.
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I’m advised to trade around a notable amount of price change.
An opportunity to open a short position at a peak around 10:00. I would close out of that around 2:30 at a trough.
Overview
In the pre-market, there’s a notable decline to revisit a support level that we met once before. If a short position was opened on the 28th I would close it at that support level. There’s a peak around 10:00 that we’ll sell off from through multiple support levels. There’s a speaker and a trough around 11:00. Between 11:00 and noon we’ll have sideways rotation followed by a big move higher standing out on a one-day chart. That’s followed by yet another move higher and more sideways rotation. There’s a key resistance level highlighted between 1:00 and 2:00 at a high for the day. We’ll decline notably from that high through multiple support levels. We’ll move into a low around 2:30 and then have an unexpected move higher out of that low. That’s followed by a decline through multiple support levels in the last hour of trading.
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