Updated: Jan 28
*Accuracy rating update: 100% or 7/7 predictions correct*
Day’s Theme: A prominent move higher that stands out on a multi-day chart, however that move higher is a fake out.
Behavior Around the High: There’s a significant decline off of the high that increases with momentum moving forward into the day.
Behavior Around the Low: There’s an opportunity to position oneself in both directions around the low.
A trade opportunity in the last hour around an agreement between two leaders or a merger of some kind.
On January 11th, there’s a critical technical price level highlighted in the pre-market. We’ll decline from that price level into a low either in the pre-market or around the open. There’s a move to the upside at some point in the first hour and a half. There’s likely a drop within that move to the upside and that slight drop is followed by a high. That high is formed at a failed attempt to break through key resistance that’s likely on a multi-day chart.
Between 1:00 p.m. and 2:00 p.m., we’ll have a move higher through resistance and then break back down through that price level shortly thereafter. We’ll have a day’s low around this time. An agreement between two leaders or a merger of some kind is highlighted in the last hour. There’s a trade opportunity around a sharp decline into another low around the close.
A notable decline midday that will stand out on a multi-day chart.