Day’s Theme: A notable move to the upside that stands out on a multi-day chart.
Behavior Around the High: There’s a decline out of the high that offers the opportunity to open up a long position.
Behavior Around the Low: A decline from a support level down to a second support level on the scale of a one-day chart. We’ll then rotate sideways along that support level.
Trade Opportunities:
I’m advised to trade around a decline that offers an opportunity to open a long position.
An opportunity around a fast, sudden move higher along a diagonal trend line in the morning.
Overview
On February 13th, we’ll have three crisscrosses back and forth through the same price level confirming a bullish trend in the pre-market. There are price swings around the open and a day’s high first thing in the morning. We’ll rally along a diagonal trend line into a day’s high and a trade opportunity when we have a fast, sudden move higher along a diagonal trend line. That fast, sudden move higher is followed by a break down through that diagonal trend line with increasing volatility on the way down. We’ll have three pokes through the same price level followed by a sharp drop after the third poke between 10:00 a.m. and 11:00 a.m. Off of that decline after the third poke sometime before noon, there’s a notable move to the upside that will take us back to a day’s high or a prominent crest.
We’ll then decline into a day’s low and possibly have a holding pattern or some sideways rotation around that low. That will take place some time between 11:45 a.m. and 1:45 p.m. (it will likely be closer to 1:45 p.m.). There may be something about congress highlighted. We’ll then have a notable and unexpected move to the upside. I’m advised to cash out of a long position around that move to the upside. I’m also advised to be cautious around a fake out between 2:00 p.m. and 3:00 p.m. In the last hour, there’s some erratic behavior back and forth. Around the close, we’ll likely have a notable move to the upside that stands out on a one-day chart. In the post-market, we’ll have a move into a resistance level that we then bump up against.
Sneak Preview
On the 14th, we may open higher in the pre-market, however there will be some price movement throughout the day that nullifies that breakout in some way.
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