Updated: Sep 27, 2022
*Accuracy rating update: 88% or 10.5/12 predictions correct*
Day’s theme: A notable decline on a one-day chart and likely on a one-month chart.
Behavior around the high: N/A
Behavior around the low: A fast, sudden move higher out of the low that marks the end of a period of decline.
An opportunity in the midst of a trough midday.
On August 12th, we have the completion of a bullish trend near the open. From 10:00 a.m. to 11:00 a.m., there are sideways fluctuations with a bearish trend preceding an incline. There’s a lot of bearish energy in general between 10:00 a.m. and noon. Around midday, there’s a trade opportunity in the midst of a trough, and out of that trough there’s a rally to the upside with some sideways fluctuations along a diagonal trend line. We then break through horizontal resistance to meet a secondary resistance, followed by a pull back to somewhere between those two price levels.
Between roughly 1:00 p.m. and 2:00 p.m., there will be multiple failed attempts to break through key resistance. We have another notable trough or day’s low toward the end of the day. We may have a bit of a pop higher, and there’s some unexpected or irregular movement as well. There’s also an agreement between two leaders or a merger of some kind highlighted around the close as well as a cash-out opportunity. We’ll see erratic, volatile behavior in the post-market.