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Evening Two-Cake Strategy
The two-cake hourly cycle breaks out into a sharp rise and a spike pattern. Although it briefly pushes through the previous local high, it fails to effectively break the flag pattern structure and is unable to hold above the 2325 resistance level; the market then quickly pulls back to consolidate and correct.
If the pullback to 2270 succeeds in holding, the hourly chart may form a double-bottom structure, then later shake and rebound upward again. If the 2270 support is directly broken through on a downward move, then look to the 2219 target level.
For the market to extend the rebound and strengthen, 2325 is the crucial level that must be broken. After successfully holding the breakout, it can then target the intraday spike high of 2342, and further look toward the strong resistance at 2380; otherwise, if the rebound fails to withstand pressure and gets rejected at 2343, it will form multiple top patterns in sync with the big cake, and start a phase of pullback.
Trading Suggestions:
Break above 2315 with volume and follow with a long position on the right side;
Break below 2298 with volume and follow with a short position on the right side;
If the hourly chart holds above 2315, the upside targets are 2343–2380;
If the 4-hour chart effectively breaks down below 2300, look down to 2259–2219.
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