*Accuracy rating update: 100% or 15/15 predictions correct*
Theme:
A notable decline that may have to do with a global issue. Behavior around the high is to and through some support levels, however that behavior is nullified in some way. We’ll have bullish price swings out of the low.
Overview:
In the pre-market on September 29, 2022, there’s a move higher through a resistance level. We stay above that level briefly and then break back down through the same price level. We’ll see a lot of movement in the pre-market and the first half hour of trading. Around the open, it looks like we’ll have three criss-crosses through the same price level into a decline. In the midst of that decline, there’s an opportunity to open up a long position. Somewhere in the first half hour we meet a low. Between roughly 10:00 a.m. and 11:00 a.m. there’s a rally, and in the midst of that rally there’s an opportunity to open up a short position or close that long position. It looks like there’s a reversal from a trough somewhere around 10:30 a.m. Between roughly 11:00 a.m. and noon the rally continues. There’s another trade opportunity, possibly around midday, marked by a fast, sudden move to the upside. That sudden move marks a trade opportunity before we break down through a diagonal trend line.
From roughly 1:00 p.m. to 2:00 p.m., there’s a diagonal trend line that we break down. There’s a prominent decline on a one-day chart moving in toward the afternoon. Out of that decline, there’s a move from the bottom of a range all the way to the top of a range, followed by sideways rotation along a support level somewhere around 3:00 p.m. to 4:00 p.m. There’s a cash out opportunity and a break down through multiple support levels from a crest right around the close. There’s some sort of disappointment or unpleasant surprise around the close. We’ll see another low in the post-market. It appears that quite a bit of ground is covered overnight.
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