*Accuracy rating update: 94% or 16/17 predictions correct*
Theme:
A notable intentional fake out encouraging impulsivity. I’m advised not to open a trade on this day. We’ll have one of two things around the high: we’ll either have a holding pattern and then drop or we’ll have a holding pattern and then shoot up and come back down. There will be a decline that increases with momentum moving into the low.
Overview:
On September 20, 2022, in the pre-market we have sideways rotation along an important support level that increases with bullish sentiment and momentum moving into the open. At the open, have multiple failed attempts to break through key resistance followed by a notable move higher. After a move higher, we’ll see a notable decline. Out of that decline, there’s a move from the bottom of a range to the top of the range. It looks like there will be a crest around 10:30 a.m. or 11:00 a.m. Between 11:00 a.m. and 1:00 p.m., there’s then a halting of that bullish trend marked by a notable decline on a one-day chart through an important support level. Somewhere between 12:00 p.m. and 2:00 p.m., there’s a big move back up out of a trough to reach another prominent crest. Between 1:00 p.m. and 2:00 p.m., we successfully turn resistance into new support to create a high. This is a good cash out opportunity on a bullish trade.
Right around 3:00 p.m., we have another notable decline to a support level. There’s rotation along that support level in the last hour. In the midst of this, we rise to meet the nearest resistance and then fall back down to that support and continue moving alongside it. Somewhere in the last hour and a half there’s a fake out. Right around the close, there’s a decline through a support level to meet a secondary support level. We move sideways along that support level and then break down through multiple support levels. In the post-market, we’ll see a lot of volatility with a sharp dip in the midst of that volatility. It looks like we’ll open lower the following day.