META August 2023 (Paid Version/ Best Trades)

Month’s Theme: A rally offering an opportunity to either close out of a long position or open a short position. That’s crossed with sideways rotation at a key support level

Behavior Around the High: Out of a decline, there’s a fast, sudden move higher that marks the end of that decline and takes us to the high.

Behavior Around the Low: A sharp drop into the low within a period of sideways rotation.

Exclusive Trade Opportunities for Subscribers:
- An opportunity to open a short position on the 1st or the 2nd. I would hold that position overnight and close out the following day.
- An opportunity to open a long position on the 16th for a day trade.
- An opportunity to open a short position on the 16th to hold into September.
- An opportunity to open a short position on the 28th. I would hold that into September.

Overview

On the 1st, there’s an important crest early in the day that we’ll decline from pretty notably. On the 2nd, there’s a rally that offers an opportunity. On the 3rd, we’ll have sideways fluidity and the potential for a lowest low. We’ll have an important crest on the 4th.

We’ll likely open lower with a big move higher early in the day on the 7th. On the 8th, there’s an unexpected move higher into a crest or peak. We’ll have a prominent trough as well. We’ll gap down again on the 9th and then break out on a multi-day scale. On the 10th, there’s a decline. Out of a decline, we’ll see a notable move higher. On the 11th, we’ll meet a key resistance level and then break down with consecutively lower spikes up on the way down. We’ll likely gap down over the weekend.

On the 14th, there’s a peak that we’ll decline from and then create a U-shaped dip when we move back up into a peak. On the 15th, there’s a period of volatility that ends with a fast, sudden move higher. On the 16th, there’s quite a bit of price change with both a prominent trough and an important resistance level. That resistance level may be our highest price level thus far. On the 17th, we’ll either have a fast, sudden move higher at the end of the day out of a trough or there’s a move higher throughout the day. On the 18th, we’ll push the upper end of a range higher. Over the weekend, we’ll gap up.

There’s a peak or crest early in the day and some wild price swings on the 21st. There’s a key resistance level that we’ve met before highlighted on the 22nd. On the 23rd, we’ll have the establishment of support and some sideways rotation along it followed by a big move higher. We’ll likely see a highest high around the 23rd. On the 24th, there’s a lot of price change. On the 25th, we’ll have a prominent move higher followed by a full retracement of that move. The other possibility is a rally into a high at the end of the day.

There’s a peak or crest on the morning of the 28th after a gap up. On the 29th, we’ll likely break down through multiple support levels with a significant decline. On the 30th, there’s a move from the bottom of a range to the top of a range. On the 31st, the rally to the upside on the 30th will end with a breakdown through a diagonal trend line with increasing volatility on the way down. We may see another lowest low at the end of the month.

Sneak Preview

We’ll sell off from a near overbought crest or peak pretty notably in September.