*Accuracy rating update: 100% or 14/14 predictions correct*
Theme:
We have an important resistance level that’s highlighted, likely the high. There are multiple trade opportunities identified for the day at both a high and a low. The behavior out of the high is going to be a decline that increases with momentum as we move further down. The move out of the low is going to be a prominent move to the upside that will stand out on a one-day chart.
Overview:
In the pre-market on September 14th, we have a failed attempt to break through a key resistance level on a one-day chart. This is followed by a decline through a key support level on a one-day chart. Right around the open, we have a continuation of the decline possibly followed by a bit of a move to the upside through a resistance level. We stay above the resistance level briefly and then we break back down through that same price level. There’s a trade opportunity around the low here. I’m advised to be prudent because there’s a possibility of multiple false lows around this time. Between 11:00 a.m. and noon, either we meet an important technical level or there’s some sort of technical indicator that’s triggered. We’ll see another decline into a trough between noon and 1:00 p.m. Between 1:00 p.m. and 2:00 p.m., we revisit a past opportunity at a support level when there’s a period of sideways rotation and a sharp dip within that sideways rotation. Around 2:00 p.m., it looks like we’ll see a move to the upside.
Off of the high, we have a decline involving sideways fluctuations with a bearish trend that precede a rally. In the last hour, there’s a halting of a bullish trend as we break down from the high through a key technical level. There may be a bit of a move higher into the end of the day. I’m advised to open up some protection here.
Sneak preview:
A notable decline.
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