The bullish target has been achieved, beware of the market reversal.
Shared on July 21:
Following the previous post that the key position of the big cake weekly line has been broken and confirmed, the subsequent short-selling is mainly based on the target position after the rebound before reaching the mentioned buying zone, betting on the continuation of the short position to the target position. Market analysis: The daily level bullish structure has been completed, and it has now come to the resonance resistance band near 6.73. Adhering to the selling zone to find selling points, friends who have long orders at the bottom are recommended to take profits, or lock in profits and keep a small position to bet on a small probability of market reversal. Trading opportunities: Shorting can be done on the left and right sides of the resonance resistance band. The principle is still to lightly position on the left and confirm to increase positions on the right. The stop loss on the left is two points above the current price or a point above the high point of last night; if the 4-hour top structure is formed, friends who enter the market on the right side should stop loss according to the structure band, and the target stop profit position will be determined after the subsequent structure comes out.
In general, the rebound is in place, do not chase more, and the market may continue the weekly bearish structure. For details of the buying zone, please see the diagram in the previous post.
If my sharing is helpful to you, please follow me. I will share market analysis and trading opportunities based on the market situation from time to time. I will not hindsight or jump to the top. I will only share trading logic.
