Updated: Jan 3
*Accuracy rating update: 90% or 9/10 predictions correct*
Day’s theme: A move higher through a resistance level that will stand out on a multi-day chart. We’ll stay above that resistance level briefly and then break back down through the same price level.
Behavior around the high: The move higher through resistance mentioned in the theme is around the high. We move from support to resistance and back through resistance and to support again in an S-shaped formation.
Behavior around the low: Sideways fluidity along a key support level, however this is nullified which makes this price movement irrelevant.
Around the open, there’s a trade opportunity within the completion of a rally.
On December 22nd, we’ll either open up higher in the pre-market or open at the same price level as the previous day. Around the open, there’s a trade opportunity within the completion of a rally. We’ll have bearish price swings in the first half hour or so with a sharp drop that stands out. Out of that sharp drop, there’s a notable move higher standing out on a one-day chart to reach for a significant resistance level on a one-day chart. This move higher will continue into noon. There’s a brief peak around that move to the upside that could be easily missed.
We’ll then see a full retracement with a notable decline to reach a significant support level on a one-day chart. We’ll rotate alongside that support level roughly between 2:00 p.m. and 3:00 p.m. There will be a bit of a move higher in the last hour. We’ll meet a resistance level that stands out on a one-day chart right around the close. We’ll decline in the post-market or overnight.
We open with a lower low and a trade opportunity on the 23rd.