Month’s Theme: Bullish behavior.
Behavior Around the High: A failed attempt to break through key resistance followed by a decline through key support on a multi-day scale.
Behavior Around the Low: The completion of a rally followed by a decline through key support on a multi-day scale.
Exclusive Trade Opportunities for Subscribers:
An opportunity to get into 50% of a short position on the 3rd at a resistance level on a multi-day scale.
An opportunity to open a long position on the 10th.
An opportunity to open a long position on the 13th and close it at the end of the day on the 14th.
An opportunity to open 50% of a long position on the 13th and the other 50% after a decline on the 16th.
An opportunity to open a long position on the 15th in the morning. You could close it on the 16th if there’s an opportunity. If not the 16th then on the 22nd or 24th.
If there’s a highest high on the 24th, you could open 50% of a short position. If there isn’t you could open up a full position on the 27th/28th.
Overview
There’s resistance highlighted on a multi-day scale on the 1st, 2nd, and the 3rd. There’s a trough at the end of the day on the 2nd as well as on the 3rd. There may be a highest high on the 3rd and if it’s not on the third it’ll be on the 7th. We’ll decline pretty notably from the 7th into the 8th. I would exit a short position here. There’s the bottom of a range highlighted on the 8th and a range highlighted on the 9th. The 10th and the 13th offer an opportunity to open a long position. You could open 50% of a long position on the 13th.
We’ll have another lowest low on the 13th in the midst of a period of volatility. At the end of the day on the 14th, there’s a big move to the upside. You could close the long position here. On the 15th, I would open a long position in the morning at a trough after a decline through multiple support levels. You could likely close it the following day on the 16th. If not the 16th, then on the 22nd or the 24th. You could open the other 50% of the long position after a decline on the 16th. You could close the long position on the 17th. If we see a highest high on the 24th, I would open 50% of a short position. If we don’t see a highest high there, I would open up a full position on the 27th/28th. Be cautious of a sharp drop at the end of the month.