Month’s Theme: A significant opportunity standing out on a one-year scale. It’s crossed with the revisiting of a support level that was recently a passed opportunity.
Behavior Around the High: We’ll establish support at the high.
Behavior Around the Low: A failed attempt to break through key resistance on a multi-day scale followed a decline through key support taking us into the low.
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An opportunity to open a short position on the 4th in the midst of a rally. You could close that position the morning of the 5th.
An opportunity to open a long position for a day trade at a low the morning of the 5th and close it toward the end of the day.
A fast, sudden move higher on either the 6th or the 7th offers an opportunity to open a short position.
Overview
On the 1st, there’s a key resistance level highlighted where we should see volume and volatility kind of flatten out.
There’s a notable move on the 4th and a rally that offers an opportunity to open a short position. I would close that position the morning of the 5th. I would then get into a long position at that low for a day trade. I would exit that toward the end of the day. There’s either a gap down overnight or a sideways-fluctuating decline on the 6th. There’s a fast, sudden move higher either on the 6th or on the 7th that will take us into a high. I would open a short position after that move higher...
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