*Accuracy rating update: 100% or 14/14 predictions correct*
Day’s theme: A move higher, even in the face of seemingly overwhelming headwinds.
Behavior around the high: The high is a good price level to set up a straddle/strangle utilizing options, meaning in the near future we’ll see a notably higher and notably lower price level within close proximity.
Behavior around the low: Out of a period of decline, there’s a fast, sudden move higher marking the end of that period of decline.
Trade opportunities:
I’m advised to trade around a period of volatility that ends with a fast, sudden move to the upside.
Overview:
On January 30th, we’ll have a period of sideways rotation in the pre-market and we’re bound by a range on a multi-day chart. There’s a high at the beginning of the day. We’ll have both an important high and an important low within close proximity to each other. Around the open, we’ll have three crisscrosses through the same price level confirming a bullish trend. We’ll then see a significant move lower after those three pokes through the same price level at some point in the first hour. This will be followed by a move higher where we’ll successfully turn resistance into new support.
We’ll have a new high or the same high as before between roughly 11:00 a.m. and noon. This is followed by a relatively big move higher past the last high, however this is a fake out or some sort of intentional misdirection that’s intended to inspire impulsive decisions. Between roughly 1:00 p.m. and 2:00 p.m., we’ll hit a key resistance level on a one-day chart. That bullish trend is halted when we decline with consecutively lower spikes up on the way down. We’ll come to a prominent low between 2:00 p.m. and the close. There’s a move higher around the close where we pop through a resistance level, stay above it briefly, and then we’ll break back down through the same price level. We’ll sell down from an overbought crest in the post-market.
Sneak Preview
A male ruler of nations is highlighted on the 31st. We may also see a key support level that’s highlighted on a multi-day chart.
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