Updated: Mar 13
Day’s Theme: A significant decline off of a crest or peak standing out on at least a multi-day chart.
Behavior Around the High: A significant decline off of the high where we attempt to establish support and then we fail to establish support and decline from there.
Behavior Around the Low: The halting of a bullish trend marked by a sharp decline through key support.
I’m advised to trade around selling down from a crest to and through a support level. We’ll do a U-shaped reversal below that support level, come back up, and then reuse that support level as support.
On April 17th, we’ll have three crisscrosses back and forth through the same price level in the pre-market. We’ll also have a peak or crest early in the pre-market and then sell down from that peak or crest after a few attempts to break through resistance around the open. There’s a speaker around 10:00 a.m. that I’m advised can be trusted. We’ll have a U-shaped dip and then move back up between 10:00 a.m. and 10:30 a.m. We’ll then decline through multiple support levels. Around noon, there’s a failed attempt to break through key resistance that we attempted to break through once before followed by a decline through key support.
We’ll have a crest that forms around 1:00 p.m. or 2:00 p.m. followed by a sharp drop off of that crest. Between 2:00 p.m. and 3:00 p.m., we’ll continue to decline. Another crest forms in the last hour with some sideways fluidity and back and forth behavior along key support. We’ll then sell off from that crest significantly around the close or in the post-market.
On the 18th, there’s an agreement between two leaders or a decision of some kind that’s highlighted. There should be a pop and drop around that.