Day’s Theme: The completion of a bullish trend.
Behavior Around the High: We’ll meet a key resistance that we’ve failed to break through many times before.
Behavior Around the Low: A rally into key resistance followed by a decline with consecutively lower spikes up on the way down.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position first thing in the morning.
An opportunity to open a long position in the midst of a decline in the 1:00 to 2:00 hour.
Overview
On October 5th, we’ll likely open lower. There’s a trade opportunity first thing in the morning. There are multiple failed attempts to break through key resistance in the first half hour followed by a decline into an important trough. There’s a trough between 10:00 and 11:00. Closer to the 11:00 hour, we’ll have a big move out of that trough. There’s an important price level we meet at a high between 11:00 and noon.
We’ll break through that price level momentarily in a fake out. Instead of continuing up, we’ll break back down and have a sideways-fluctuating decline into the 1:00 to 2:00 hour. In that hour, there’s an opportunity to open a long position in the midst of a decline. We’ll have sideways rotation, and at the end of the day there’s a peak or crest we’ll sell off from through multiple support levels.
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