Day’s Theme: Three crisscrosses back and forth through a key support level confirming a bullish trend that will stand out on more than just a one-day chart.
Behavior Around the High: Sideways rotation along a key support level. That sideways rotation ends with a fast, sudden move higher.
Behavior Around the Low: Sideways fluidity with equal amounts of inflow and outflow around the low.
I’m advised to trade around an improbable opportunity.
On February 22nd, in the pre-market there’s a decline from support down to a second support level and then bounce sideways along that support. We’ll then break down through multiple support levels. There’s a crest around the open that’s near overbought territory and we’ll sell off from that crest. We’re bound by a range in the first half hour. There’s a notable move to the upside off of that range and we’ll move into a high for the day sometime between 10:00 a.m. and 11:30 a.m. Off of that high, we’ll decline through a support level on the scale of a one-day chart. We’ll rotate sideways along that support at the low between 11:30 a.m. and noon.
There’s a cessation of sideways rotation around 12:45 p.m. We’ll have a U-shaped dip between roughly 12:30 p.m. and 2:00 p.m. That dip will form near the intersection of two perpendicular diagonal trend lines. I’m advised to open up protection in the midst of that dip between 1:00 p.m. and 2:00 p.m. We’ll come out of that dip and create a crest at a key resistance level on at least a one-day chart. The bottom and top of a range are highlighted between 1:00 p.m. and 3:00 p.m. We’ll sell down from a crest to and through a support level in the last hour and then reverse to come back up and reuse that support level as support. We’ll establish a stable foundation for support around the close at a key technical price level.
On the 23rd, there’s a notable drop or bearish price swings that stand out on a one-day chart.