Updated: Sep 27, 2022
*Accuracy review update: 100% or 12/12 predictions correct*
Day’s theme: An agreement between two leaders of nations or a merger of some kind that takes place around the day’s high.
Behavior around the high: Sideways rotation along support around the high. An agreement or merger of some kind is also highlighted. I’m also advised to open up some protection around the high.
Behavior around the low: Bearish price swings and/or a significant dip on a one-day chart.
An opportunity to open up a short position around the high for a day trade.
Around the close, there’s an opportunity to open up a long position in the midst of a decline.
On August 8th, we break down through a support level and to a secondary support in the pre-market. At the open, there’s a big move to the upside that will stand out on a one-day chart. We meet an important resistance level with the possibility of a temporary breakout. Between roughly 10:00 a.m. and 11:00 a.m., there’s a first day’s low. There’s then a fast, sudden move higher marking the end of a period of decline. A high for the day will be between roughly 11:00 a.m. and noon, and I’m advised to open up protection at the high.
Between roughly 1:00 p.m. and 2:00 p.m., we’ll see some sideways rotation that’s possibly followed by a fast, sudden move higher. There’s a lot of movement around this time. If you made a bearish trade around the high, there’s likely an opportunity to cash in around this time as well. The edge of a range is highlighted between 2:00 p.m. and 3:00 p.m. We then have a notable decline into the close. There’s an opportunity to open up a long position in the midst of this decline. We may have a bit of a rally out of the close and into the post-market.
It appears that there’s a lower low on the 9th.