Month’s Theme: A failed attempt to break through key resistance on a multi-day scale followed by a decline through key support.
Behavior Around the High: Most likely location of a high is on the 15th or on the 18th/19th.
Behavior Around the Low: There’s a low on the 7th and the lowest low for the month is from the 27th into the 30th.
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An opportunity to open a long position on the 1st in the midst of a decline. I would close that on the 3rd.
An opportunity to open a short position at a high on the 3rd/4th. You could close that on the 5th.
An opportunity to open a long position on the 7th in the midst of a low. You could close that on the cusp of the 8th/9th.
A move higher on the 18th/19th offers an opportunity to open a short position. You could close that either on the 23rd, the 27th, or the 30th.
An opportunity to open a short position at a peak toward the end of the day on the 27th. You could exit that on the 30th.
Overview
On or around the 1st there should be a notable decline increasing with momentum throughout the day. I would open a long position in the midst of that decline. That will precede a significant move to the upside. I would close that long position on the 3rd at a highest high. If there’s no high, I would close it on the 4th. You could open a short position on the 4th and close that short position on the 5th.
We’ll have a lowest low thus far on the 7th. In the midst of that low, you could open a long position and close it on the cusp of the 8th/9th. There’s a notable fake out on the 14th so I’d tread carefully. On the 15th, there’s a breakout through key resistance to meet a highest high for the month. I’d be cautious of a sharp drop on the 16th. We’ll most likely see the high again after a fast, sudden move higher on the 18th/19th. That move higher offers an opportunity to open a short position. You could close that on the 23rd, the 27th, or the 30th. There’s another sharp drop into the 19th/20th. There’s another significant low on the 23rd.
On the 27th, there should be a move higher through resistance that we’ll stay above briefly and then break back down shortly thereafter. There’s a peak toward the end of the day that offers an opportunity to open a short position that you could exit on the 30th. We’ll then break back down on the 28th.
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