Updated: Sep 27, 2022
*Accuracy rating update: 93% or 13/14 predictions correct*
Day’s theme: A notable move to the downside through multiple support levels, however this is somehow nullified.
Behavior around the high: N/A
Behavior around the low: Sideways fluidity along an important support level is highlighted near the low.
There’s a trade opportunity around the open in the midst of some sideways fluctuations with a bullish trend.
There’s an opportunity to open up a short position in the midst of a rally right around the close.
On August 3rd, we’ll have a failed attempt to break through key resistance followed by a sharp decline through support in the pre-market. There is a U-shaped dip right around the open as well as a trade opportunity in the midst of some sideways fluctuations with a bullish trend that precede a decline. That decline takes place in the first hour and a half. We’ll then have a move higher through resistance, followed by a sharp decline back down through that same price level shortly thereafter. Roughly between 10:00 a.m. and 11:00 a.m., there’s an important resistance level highlighted. Midday, there’s a day’s low after a sharp dip within a period of sideways rotation along support.
Between 1:00 p.m. and 2:00 p.m., there’s selling from overbought territory on the RSI into a sharp drop. In the last hour, the end of a period of volatility is marked by a fast, sudden move higher. Around the close, we bump up along resistance. There may also be a bit of a rally around the close that marks another opportunity to open up a short position. In the post-market, there’s sideways rotation along support, followed by a move to the upside to meet the closest resistance. We then move back down to meet the previous support level.
There may be some important news that comes out overnight.