7.29 Lu Hong “Er Bing” morning trading plan


A major event is coming at 2 a.m. as the US Federal Reserve announces its interest rate decision! The long/short landscape may become clearer!
Yesterday, Er Bing’s short side was strong in the daytime session, pushing down to a new low at 1855. Then the long side increased volume and surged upward, reaching 1920 as expected and securing a 65-point profit. Over the next hour, the chart formed a bottoming-and-rebound pattern; there is potential for a pullback in the short term.
Intraday plan
Pull back to around 1900 and hold to go long
Stop loss at 1885
First target: 1935
If it breaks through, second target: 1950
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