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March 2023 Optimism (OP) Predictions (Public Version)

Updated: Mar 6, 2023

  • Month’s Theme: A rally that offers an opportunity to open a short position. I’m advised to be cautious, however.

  • Behavior Around the High: A decline from the high that offers an opportunity to open up a long position.

  • Behavior Around the Low: A notable move to reach the low and a trade opportunity around the low.


Week One (3/1-3/4)

On March 1st, we’ll have bearish price swings and a sharp decline. On the 2nd, there’s a notable rally and a trade opportunity. On the 3rd, there’s another trade opportunity in the midst of some sideways rotation. There’s a prominent trough or low, out of which there’s a notable move to the upside on the 4th.

Week Two (3/5-3/11)

We’ll likely have the month’s high on the 5th. There’s a move higher through resistance and we’ll stay above it briefly and then break back down through the same price level shortly thereafter. We’ll gap down on the 6th and that’s likely followed by a reversal and a move back up. We may see the high again on the 7th. There’s also a decline that increases with momentum moving forward in time on the 7th. There’s a breakout on the 8th. On the 9th, we’ll rally along a diagonal trend line. We’ll then break through horizontal resistance to meet a secondary resistance level and then we pull back to somewhere between those two price levels. There’s an intentional fake out or shake out of some kind on the 10th. There’s a prominent crest and a prominent trough on the 11th.

Week Three (3/12-3/18)

There’s a decline between the 11th and the 12th, out of which there’s a move from the bottom of a range to the top of a range. On the 13th, we’ll fail to break through key resistance and then decline through key support to reach a prominent trough toward the end of the day on the 13th. On the 14th, there’s a fast rally into a crest or peak that increases with momentum. On the 15th, we’ll meet resistance and break down from resistance with consecutively lower spikes up on the way down. On the 16th, we’ll decline through support to meet a second support level and then rotate sideways along that support. On the 17th, we’ll come up against a resistance level that we’ve come up against multiple times before and then fail to break through it. There’s a significant move to the downside followed by a significant move to the upside on the 18th.

Week Four (3/19-3/25)

There’s a significant crest or peak where we’ll temporarily establish support on the 19th. There’s a notable decline that stands out on a one-month chart on the 20th. On the 21st, there’s a near overbought crest that we’ll sell down from. We’ll meet that crest and sell down from it again on the 22nd. There’s another prominent crest that we’ll sell down from again on the 23rd. We’ll have three crisscrosses through the same price level confirming a bullish trend on the 24th. There’s an unexpected move out of a low on the 25th.

Week Five (3/26-3/31)

On the 26th, there’s a bit of a holding pattern with a pop and drop. There’s a prominent crest and a support level we’ll rotate sideways along on the 27th. There’s a prominent move to the upside followed by a full retracement and the halting of a bullish trend on the 28th. On the 29th, there’s a sharp decline through key support. There’s some sideways rotation that increases with bullish momentum as we move forward in time on the 30th. We’ll establish support again on the 31st.

Sneak Preview

In April, there’s a prominent low. There’s also a key resistance level that’s significant on more than just a one-month chart.

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