*Accuracy rating update: 100% or 12/12 predictions correct*
Day’s theme: An important price level is highlighted for the day. We may also see the month’s low today.
Behavior around the high: N/A
Behavior around the low: The low is nullified, but there’s significant trade opportunity around the low. It looks like the low is in the first half hour or so.
Trade opportunities:
A significant trade opportunity in the morning around the low.
Overview
On December 21st, there’s a notable decline and a significant trade opportunity within the first half hour to hour and a half. There’s also a notable fake out around the end of that decline. Instead of continuing to decline, we’ll see a fast, sudden move higher around noon. There’s a crest or peak from which we sell and a notable rally that increases moving into the end of the day. We reach for a distant resistance level on a one-day scale, we stay above it briefly and then break down through the same price level shortly thereafter.
There’s a notable move to the upside toward the end of the day where we push the upper end of a range higher. There’s some volatility and a rally along a diagonal trend line toward the end of the day and in the post-market that ends with a fast, sudden move to the upside. We’ll break down through a diagonal trend line with increasing volatility on the way down. We’ll see a high toward the end of the day and a notable move out of the low.
Sneak Preview
A rally that offers an opportunity to open up a short position on the 22nd.