*Accuracy rating update: 100% or 11/11 predictions correct*
Theme: Multiple failed attempts to break through key resistance.
Overview:
For September 6, 2022, we’ll see a decline out of a high that increases with momentum moving forward in time. There’s a good cash-out opportunity at a low toward the end of the day. Congress is highlighted around a trade opportunity. In the pre-market, we have a move higher followed by a full retracement. Around the open, we meet a resistance level and break down with consecutively lower spikes up on the way down. In the first half hour, we have a notable move that looks to be the beginning of a rally. This will continue into 10:15 a.m. or so. Around 11:00 a.m., we have a decline that turns into a day’s low. This is followed by a move back up to a resistance level in the midst of some volatility around 12:00 p.m. or 1:00 p.m. Look out for a sharp dip around this time. Between 1:00 and 2:00, the dip will take us back down to support and we’ll see multiple failed attempts to break through key resistance.
There’s a notable decline due to multiple headwinds and we’ll see multiple day’s lows between 1:00 and 3:00. Between 2:00 and 3:00, there will be sideways fluctuations looking like three crisscrosses through the same price level confirming a bullish trend. In the last hour, there’s a bit of a fakeout and not much of a move higher. There appears to be a bit of a decline overnight from a failed attempt to break through key resistance and failure to create new support in the last hour.