Day’s Theme: An overall bearish day.
Behavior Around the High: A pop and drop around the high.
Behavior Around the Low: Nullified behavior around the low
Exclusive Trade Opportunities for Subscribers:
An opportunity to position oneself in both directions around a move into a resistance level in the morning.
Overview
On September 22nd, we’ll either open higher and have a drop or open lower and have a big move to the upside out of the open. Either way, we’ll revisit a recent support level. There’s an unexpected move to the upside reaching for distant resistance on a multi-day scale. I would position myself in both directions around this point. There’s a decline through multiple support levels somewhere between 11:00 and noon. There’s then a brief peak that’s easily missed followed by a sell-off through multiple support levels between noon and 1:00. That decline continues further between 1:00 and 2:00. We’ll then have another decline through multiple support levels between 2:00 and 3:00, however we’ll have a very prominent move to the upside around 3:00. In the last hour, there’s a prominent move higher and a retracement of that move back down.
Sneak Preview
We’ll probably open lower Monday morning.
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