*Accuracy rating update: 100% or 12/12 predictions correct*
Theme: The end of a decline with a fast, sudden move to the upside. There’s also significant price movement around an event involving the president.
Overview:
On September 8, 2022, in the pre-market we’ll see a U-shaped dip near some perpendicular diagonal trend lines. Right around the open, there’s a day’s low in the midst of a period of volatility. In the first half hour, we’ll move out of that volatility with a notable move higher on a one-day chart. This move higher is significant but it doesn’t last long. There’s three failed attempts to break through key resistance and on that third failed attempt there’s a sharp drop. Between 11:00 a.m. and noon, there’s a trough in the midst of a decline. There’s a brief, minor crest that forms midday preceding a decline. There’s then a notable move to the downside here to a day’s low. From 2:00 p.m. to the end of the day, there’s a lot of price movement. In the last hour of the day, a trade opportunity presents itself around a key technical price level. There’s a move higher through that price level and we stay above it briefly. Shortly thereafter, we break back down through that same price level. Near the close or in the post-market, there’s a move from the bottom of a range to the top of a range out of a decline.
Sneak preview:
In the midst of a decline, there’s an opportunity to open up a long position.