Two Pancakes Evening Thoughts:
The hourly triangle of Two Pancakes has been broken, and the position indicated by the yellow arrow has also formed an isolated high point corresponding to the price of 2031. The appearance of this isolated high point indicates that it is the current resistance for Two Pancakes. Only by breaking through this isolated high point can we look up to 2075 and return to the triangle for consolidation before looking at the upper boundary of the triangle. If this isolated high point cannot be broken, it will not rise. If Two Pancakes breaks below the integer level of 2000, the bullish trend marked by the white box will be lost, and it will definitely retest the support at 1915 below. Students, please remember this process.
Two Pancakes should break through 2022 with volume to chase the long side for a rebound; if it breaks below 2000, chase the short side. Pay attention to the changes in volume and set proper stop-losses.
Two Pancakes should stabilize above 2031 to look up at 2075-2118.
If it breaks below 2000 on the 4-hour level, look down at 1944-1908.
Two Pancakes has already broken below the neck level of 2025 on the 4-hour level. If the closing prices of 3 consecutive candles on the 4-hour level cannot close back above 2025, then we can continue to look down!
The position marked by the yellow box has formed a mutated bearish engulfing pattern, and various signs indicate that Two Pancakes is about to break below 2000. It's not that I don't have faith in Two Pancakes; it's just that Two Pancakes itself is too uncompetitive and cannot improve. 🥳 Happy Little New Year to everyone! Meeting adjourned.
