Updated: Sep 4, 2022
Two equal and opposite moves to cancel each other out.
We have a sharp decline in the midst of some price swings in the pre-market. We have an irrational rally higher to a distant resistance level in the first half hour. There is a big move right around the open. From 10am to 11am, we have an intentional fake out or shake out. There is a correction and that is the moment where we want to drop. From 11am to 12pm we have a sudden move higher within a period of volatility that marks the end of that period. From 12pm to 1pm there is another sharp decline. We revisit a crest and have an M-shape that crisscrosses back and forth through price levels. There is an opportunity to revisit a crest at 2pm or 3pm. There is a minor rally that picks up steam and becomes much more pronounced. We have a breakdown from that rally through diagonal support. We revisit a low that was significant in the post market.
Around the highway break through resistance even though everyone expects the opposite. There are flights to safety around the low.
Cash in on some positions and trade around a poke up and back down.