Wednesday Morning Thoughts on 8.13

The overnight market fluctuated upward and once again stood above 120,000. The short-term pullback seems to be struggling, and although the current price is high, there isn't much continuation.

From the 4-hour chart, in an overall bullish formation, the short-term market rose and then fell back. After a series of bearish candles found support in the middle, it rose again with three consecutive bullish candles. The small-scale trend remains relatively strong, but with several upper shadows left above, the short-term upward momentum lacks breakthrough potential. For today, we should first approach with a high short position.

Reference the short position in the 120,500-121,000 range, looking at the 119,000-118,000 area.