Updated: Mar 13
Day’s Theme: The halting of a bullish trend marked by a sharp decline through key support.
Behavior Around the High: We’ll meet a resistance level that we’ve come up against several times before.
Behavior Around the Low: There’s a significant decline into the low along a diagonal trend line and then a fast, sudden move higher out of the low.
I’m advised to trade around a fast move to the upside.
An opportunity to open a short position for a day trade in the midst of a rally between 10:00 a.m. and 11:00 a.m. I’m advised to close that position around noon.
On April 19th, we’ll likely open higher in the pre-market. We’ll establish support and then have a significant move to the upside which continues through the open into 10:00 a.m. or 11:00 a.m. I’m advised to open a short position in the midst of this rally. We’ll then meet a key resistance level and then have a reversal, likely around 11:00 a.m. We’ll sell off of a peak or crest through multiple support levels midday. There’s a trough or a low around 1:00 p.m. That’s followed by a sideways-fluctuating decline that precedes a rally. That decline probably continues into the end of the day. Around the close there’s a significant drop.
On the 20th, we’ll see a big move to the upside.