Updated: Nov 29, 2022
*Accuracy rating update: 100% or 15/15 predictions correct*
Day’s theme: A period of volatility that ends with a fast, sudden move to the upside. It looks like there’s a male ruler highlighted early in the day as well.
Behavior around the high: N/A
Behavior around the low: N/A
Trade opportunities: N/A
On November 14th, we will likely see a decline over the weekend and in the pre-market and then a fast, sudden move higher around the open. I’m advised to protect against long positions around the open. After a bit of a rally, there’s a notable drop to and through a support level where we then meet a secondary support level. We bounce sideways along that support level for a bit and then break down through multiple support levels, all within the first hour or two. We bump up against resistance somewhere around 11:00 a.m. or 11:15 a.m. A minor crest forms, and from that crest we sell down to and through a support level. We then reverse after selling off of the crest between 11:00 a.m. and noon. This is followed by a U-shaped reversal where we move back up to reuse that support.
There’s a big move midday to reach a distant resistance level, and we eventually meet a key resistance level on a one-day chart between roughly 1:00 p.m. and 2:00 p.m. We break down from that resistance level with consecutively higher spikes up on the way down. We attempt to reestablish support between 2:00 p.m. and 3:00 p.m. In the last hour, there’s a sharp dip that stands out on a one-day chart within a period of sideways rotation. Right around the close, there’s a failed attempt to break through key resistance followed by a decline through key support. There may be a bit of a move higher in the post-market.
We’ll likely open up around the same price level on the 15th.