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Intraday Analysis
1️⃣ Current Market Status
The current rapid shakeout movements are quite frequent. Therefore, the opportunity to jump in is fleeting. Based on the overall trend, I still lean towards my initial trading plan.
2️⃣ Key Levels
1. Major Support: Support Zone 1 and Support Zone 3 are the primary support levels.
2. Major Resistance: Resistance Zone 2 and Resistance Zone 3 are the key failure points for resistance.
3. Bullish Failure Level: Break below Support Zone 1.
4. Bearish Failure Level: Break above Resistance Zone 1.
3️⃣ Daily Directional Strategy
Bearish Strategy
1. Conditions: Encounter resistance and fall back within Resistance Zone 2.
2. Entry: Light short position.
3. Stop Loss: Break above Resistance Zone 3.
4. Target: Support Zone 1.
Bullish Strategy
1. Conditions: Support is clearly established within Support Zone 1 with increasing volume.
2. Entry: Small long position.
3. Stop Loss: Support Zone 1.
4. Target: Resistance Zone 2.