Many people ask me why I want to push a short order for this trade. At this time, we can look at the K pattern of the previous hour, which formed a long-legged upper wick. This indicates that there is strong resistance above, and the shorts can bring the longs down, thus forming a long-legged lower wick. After the next hourly candle appears, we can open a small short position at a high level, primarily observing the hourly chart. We will see the pressure at the middle band and increase the position after breaking the middle band. Then we will look at the support level from the hour before last; after it breaks, we can see that the breakdown continues to push down with the 1-hour lower wick at 144 showing sustained volume. Therefore, I would recommend shorting at high levels.
Currently, the lower band is at 14. If it breaks, we can look at the integer level of 4300.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Many people ask me why I want to push a short order for this trade. At this time, we can look at the K pattern of the previous hour, which formed a long-legged upper wick. This indicates that there is strong resistance above, and the shorts can bring the longs down, thus forming a long-legged lower wick. After the next hourly candle appears, we can open a small short position at a high level, primarily observing the hourly chart. We will see the pressure at the middle band and increase the position after breaking the middle band. Then we will look at the support level from the hour before last; after it breaks, we can see that the breakdown continues to push down with the 1-hour lower wick at 144 showing sustained volume. Therefore, I would recommend shorting at high levels.
Currently, the lower band is at 14. If it breaks, we can look at the integer level of 4300.