*Accuracy rating update: 100% or 7/7 predictions correct*
Day’s Theme: A notably big move out of oversold territory that will stand out on a one-day chart.
Behavior Around the High: A completion of a bullish trend for the day around the high.
Behavior Around the Low: Erratic behavior back and forth through the same price level. In the midst of that erratic behavior, we’ll revisit a crest that was recently a past opportunity. It looks like the low will be around the end of the day after a significant move to the upside.
Trade Opportunities:
A drop into a low at the end of the day offers an opportunity to open up a long position.
Overview
On January 5th, there’s a fake out followed by a decline out of the open. We’ll see sideways fluctuations with a bearish trend into roughly 11:00 a.m. Around late afternoon or midday, there’s a big move to the upside that pushes into a day’s high. We’ll have a lot of conflicting energy into the afternoon. We’ll see three crisscrosses through the same price level confirming a bullish trend before moving into the high. The high is likely around 1:00 p.m. to 2:00 p.m. There’s a lot of bullish energy today, however we may move into a day’s low around the close. The drop into that low offers an opportunity to open up a long position.
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