Updated: Feb 20
Day’s Theme: A failed attempt to break through key resistance followed by a decline through key support.
Behavior Around the High: The halting of a bullish trend marked by a sharp decline through key support on the scale of a one-day chart.
Behavior Around the Low: There’s an unexpected move to the upside out of the low.
I’m advised to trade around a key support level that we rotate sideways along at least momentarily.
There’s a risky trade early in the morning with an opportunity to open a long position somewhere between 11:00 a.m. and noon.
An opportunity to open a short position around a crest after 11:00 a.m.
On March 27th, there’s some bumping up along resistance in the pre-market. There’s a big move to the upside out of a decline around the open. There’s a decline into the day’s low around 11:00 a.m. That’s followed by a fast, sudden move to the upside that takes us to a day’s high or a prominent crest. There’s an opportunity to open a short position around that crest. Midday, there’s a prominent move to the upside followed by something to do with a speech.
Between 1:00 p.m. and 2:00 p.m., there’s a rally along a diagonal trend line and a decline into a trough between 2:00 p.m. and 3:00 p.m. That’s followed by three crisscrosses through the same price level confirming a bullish trend. We’ll be at a near overbought crest around resistance in the last hour. We’ll sell off from that crest with consecutively lower spikes up on the way down. Right around the close, there’s a move higher through a resistance level. We’ll stay above that level briefly and then break back down through the same price level shortly thereafter. There’s a high at the end of the day or in the post-market.
On March 28th, there’s a decline that increases with momentum as we move forward in time.