Updated: Mar 13
Month’s Theme: A significant move out of oversold territory to the upside. There’s also a rally that offers an opportunity to open a short position.
Behavior Around the High: A notable decline off of the high that will stand out on at least a one-month chart.
Behavior Around the Low: Sideways fluidity with equal amounts of bulls and bears trading.
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An opportunity to open a long position toward the end of the day on the 4th. If the 4th doesn’t seem like a good place to enter, there’s another opportunity on the cusp of the 6th and the 7th. I’m advised to close that position on the 9th.
Week One (3/1-3/4)
On March 1st, there’s a U-shaped dip. In the midst of that dip, there’s a rally that offers an opportunity to exit a position. That dip takes us into a decline on the 2nd. That decline ends with a fast, student move higher and takes us to a prominent crest at the end of the day. On the 3rd, there’s sideways rotation along key support. On the 4th, there’s a period of sideways movement and bumping up against resistance and possibly breaking through resistance. There’s a high probability of a lowest low on the 4th or the 5th.
Week Two (3/5-3/11)
On the 5th, we’ll have some sideways rotation along key support, most likely at a low. That sideways rotation will end with a fast, sudden move to the upside. On the 6th, there’s a notable move to the upside. On the 7th, I’m advised to be cautious due to multiple false tops. There’s a notable decline toward the end of the day. We’ll likely open higher on the 8th, however that rally is halted by a sharp decline through key support on a one-month scale. There’s a high probability of a high as well as a prominent trough on the 9th. On the 10th, we’ll likely open lower. We’ll have sideways fluctuations to the upside preceding a decline. There’s a rally along a diagonal trend line into the 11th. That rally ends with a fast, sudden move higher and then a breakdown through the diagonal trend that we were rallying along.
Week Three (3/12-3/18)
We’ll decline into a prominent trough on the 12th. There’s also an important resistance level highlighted on the 12th. We’ll then have three pokes through the same price level followed by a sharp decline taking us into a prominent trough on the 13th. We’ll successfully turn resistance into new support on the 14th. There’s a notable and almost irrational move to the upside reaching for distant resistance on the 15th. On the 16th, we’ll have selling from an overbought crest or peak. On the 17th, we’ll decline pretty notably from that crest into a prominent trough. There’s quite a bit of price action and a key resistance level highlighted on the 18th.
Week Four (3/19-3/25)
There’s likely another lowest low on the 19th. There’s a sideways S-formation within a channel. We’ll have bearish price swings with a sharp drop on the 20th. We’ll continue to decline into the 21st. The 21st is most likely where the lowest low is. There’s also a prominent crest that forms after moving out of the low on the 21st. There’s a strong resistance level we’ll meet on the 22nd. We’ll rally into a key resistance level and then decline with consecutively lower spikes up on the way down on the 23rd. There’s also a speech on the 23rd that I’m advised to trust. We’ll gap up on the 24th. The highest high is likely on the 24th or 25th.
Week Five (3/26-3/31)
There’s a sharp decline through multiple support levels on the 26th. On the 27th, there’s a prominent trough followed by a notable move to the upside. On the 28th, there’s a prominent move higher that takes us into a crest or peak. That’s followed by a full retracement back down to where that move higher started. We’ll have one of the biggest moves to the upside for the month and successfully push the upper end of a range higher on the 29th. On the 30th, we’ll have three crisscrosses back and forth through the same price level confirming a bullish trend. That bullish trend doesn’t hold on the 31st when we decline from support down to a second support level and then bounce sideways along that support throughout the day. We’ll then break down through multiple support levels.
In April, we’ll see some volatility that ends with a fast, sudden move to the upside.