A defining trait of the Day Trader is he starts each day with a clean slate, there are no trades running overnight. This is because short term trades follow daily borrowing rate fluctuations. It follows that a position entered on this basis can not be held overnight.
Many institutional traders are using the same trading and risk management tools as each other, this leads them to take similar day-to-day positions. When this happens the price charts show consistent moves at certain times of the day. The Retail Trader can benefit by spotting these moves as they develop. There is no need to attempt predictions using technical analysis tools.
It is sufficient to be aware of the opening price of the day and the trading direction, which will be set during the opening session. Entries and exits can be taken when momentum fades and prices form highs and lows. 14 day ATR levels and monthly highs and lows provide additional exit points. Economic data releases can be disruptive, trading those periods is a matter of experience.