The opportunity for FIL has arrived, who dares to bottom out?
Let's analyze the four-hour short-term market for FIL.
1. After experiencing a wave of correction, FIL stopped falling at 8 PM on December 20 with a four-hour candlestick, rebounding for a while before starting a second bottom test on the four-hour chart, which has now concluded.
2. During the second bottom test, the shorts decreased in volume, indicating a momentum-driven decline, and the price did not break the previous low, suggesting that the shorts are already weak.
3. The four-hour candlestick at 4 AM today broke through a minor resistance level in a small fluctuation area below, but since there was no significant volume during the breakout, the subsequent two candlesticks oscillated for a while. The two four-hour candlesticks at 8 AM and 12 PM showed further decreased volume, which confirms the weakness of the shorts and also validates the support below.
4. From the perspective of the BOLL band, it is currently a pullback after breaking through the middle band, and the BOLL is beginning to converge. 5. From the overall four-hour trend, the lows are rising, and after the second bottom test, the highs are also rising, which is a sign that the bulls are about to exert force.
Based on the above analysis, it is judged that FIL is about to welcome a short-term rise on the four-hour chart, and this position is a short-term right-side entry point.
The four-hour market changes quickly; short-term profits should be taken when good, and one should not be trapped by greed. Short-term trading emphasizes capital utilization, so one should be willing to take profits and be brave enough to cut losses; otherwise, the meaning of short-term trading is lost.
