Month’s Theme: A key resistance level on a multi-day chart is highlighted. There are two notable and unexpected moves to the upside. One is on the 1st and one’s on the 24th.
Behavior Around the High: A sideways rotation along a key support level. There’s a fast, sudden move higher off of that sideways rotation into the high.
Behavior Around the Low: Out of the low, there’s a sideways fluctuating rally that increases with bullish momentum.
Overview
Week One (2/1-2/5)
On February 1st, there’s a high probability of a high. There’s a fake out or shake out and intentional misdirection, possibly a false triggering of an indicator. There may be a gap down overnight. On the 2nd, there’s a rally higher to meet resistance and a key support level highlighted on the 3rd. On the 4th, there’s a high probability of a lowest low. There’s a notable decline on the 4th. On the 5th, we’ll have a notable move higher.
Week Two (2/6-2/12)
There’s some sideways fluctuation on the 6th back and forth through the same price level three times. On the 7th, there are multiple failed attempts to break through key resistance on the scale of a one-month. On the 8th, there’s a decline through multiple support levels on the scale of a one-month chart. There’s a prominent trough on the cusp of the 8th or the 9th. We’ll rally out of that trough along a diagonal trend line in the first half of the day on the 9th. We’ll then decline through that diagonal trend line with increasing volatility on the way down. We’ll gap down into the morning of the 10th. Out of that, there’s a big move to the upside early in the day. We’ll then have some sideways fluctuating decline preceding a rally into the end of the 10th. On the 11th, there’s an agreement between two leaders and possibly a merger followed by a holding pattern and a pop and drop. There’s a prominent crest on the 12th as well as bearish price swings with a sharp drop into a lowest low on the 13th.
Week Three (2/13-2/19)
We’ll then rally to the upside out of that low with increasing momentum moving forward into the day on the 13th. On the 14th, there’s a failed attempt to break through key resistance. There’s a crest early in the day followed by a notable selloff on the 15th. On the 16th, there’s a breakout on the scale of a one-month chart. We’re bound by the top of a range on the 17th. There’s quite a bit of price movement on the 18th that continues into the 19th. Toward the end of the day, there’s a decline offering a trade opportunity.
Week Four (2/20-2/26)
On the 20th, erratic behavior back and forth through the same price level, in the midst of which we’ll revisit a crest that was recently a past opportunity. High probability of a highest high on or around the 20th. There’s a prominent crest or peak early in the day on the 21st that increases with momentum to the downside as we move forward in the day. There’s an important trough or bottom on the 22nd that will stand out. We’ll do some sideways rotation along key support on a one-month chart on the 23rd. On the 24th, we’ll establish support and have a significant move to the upside standing out on a one-month chart. There’s a high probability of meeting the highest high again at the end of the day on the 24th. We’ll reestablish support at a higher level after that move higher. That rally ends on the 25th. There’s a bit of a decline somewhere between the 25th and the 26th. Out of that decline, there’s a notable move to the upside on the 26th where we’ll turn old resistance into new support. There’s a probable highest high somewhere between the 26th and the 27th.
Week Five (2/27-2/28)
There’s a key technical price level highlighted around the 27th. It’s likely the highest high again. On the 28th, we’ll likely open lower and there’s a prominent move higher. That’s followed by a full retracement of that move back down.
Sneak Preview
Out of a decline, there’s a fast, sudden move higher marking the end of that decline.