Today's Position Analysis $IO
From the daily level, IO maintained a unilateral downward trend as predicted. Affected by the market, it rebounded to 1.3, and then was pulled back twice by the supply pressure in the 1.91-1.96 range, resulting in the failure to recover the decline after August 3, and the failure to break through the long-short dividing line 2.09, so the follow-up situation is not optimistic. From the perspective of the RSI relative strength index, it has left the oversold stage and is currently rising slowly.
From the perspective of the four-hour demand range, due to the supply pressure in the 1.91-1.96 range twice, a potential small-level M-top bearish pattern was formed. Therefore, for subsequent market operations, we choose to chase the short when the M-top is completely formed, and enter the market after breaking through the key pressure level 2.09.
Short: At the four-hour level, the real body fell below 1.54, considering shorting (real body column)
Take profit: 1.5, 1.37
Stop loss: 1.58
Long: At the four-hour level, the price broke through near 2.09 and effectively fell back (real body column)
Take profit: 2.23, 2.6
Stop loss: 2.03
