After these two days of gradual decline and probing, some preliminary support has been confirmed. Let's look at the market to see if there are opportunities for going long.
Let's first look at the daily closing:
We can see that there were two attempts to probe the support near 922 (double bottom), and the closing price is also above 942, showing signs of stopping the decline, which indicates that the selling pressure during the holiday is starting to decrease. As long as 922 does not break, we can consider entering long positions.
Let's find some intraday trading opportunities in lower time frames.
Now let's look at the 4-hour level:
The red trend line has broken, as long as it doesn’t break the 937 level on a pullback, it can be considered a valid confirmation of the stop decline. Thus, we can consider going long near 937. If it breaks down, we need to be cautious of a continued pullback and decline, with upper resistance at 957, 964, and 996.
So today’s long position idea: observe the support around 940～937 in real trading, stop loss at 935, wait for support around 925, stop loss at 920, if it breaks down wait around 90,000.
The strongest support below is around 85,000. If the 4-hour candle breaks below 922 and does not close back above, then we can wait for a position around this area.
The morning trading idea analysis is complete, what do you think, dear viewers? Feel free to discuss in the comments. This is your little white, providing daily free analysis (sending love).