Updated: Feb 20
Day’s Theme: Erratic behavior back and forth through the same price level, in the midst of which we revisit a crest that was recently a past opportunity.
Behavior Around the High:
Behavior Around the Low: There’s a notable decline into the low.
I’m advised to trade around the completion of a rally along a diagonal trend line that ends with a fast, sudden move higher.
On March 10th, there’s a support level that we attempt to establish in the pre-market. We’ll then bump back and forth between resistance and support into the open. There’s a notable move to the upside within the first 15 minutes. That’s followed by a notable decline that increases with momentum moving into the 10:00 a.m. hour. We’ll then rally into a key resistance level and have multiple failed attempts to break through key resistance between 11:00 a.m. and noon.
Between noon and 1:00 p.m., there are three crisscrosses back and forth between the same price level, confirming a bullish trend. It’s likely that there’s a high midday or early afternoon. There’s a trade opportunity in the midst of a reversal with a notable decline breaking down through a key support level sometime between 2:00 p.m. and 3:00 p.m. In the last hour, there are three pokes through a key resistance level followed by a sharp decline to a through support after the third poke.
We’ll open higher on the 13th, however that behavior is somehow nullified. #6ofCups