Everything aligns, prioritize shorting if the 4-hour level cannot hold above 1190

The pancake dropped from 1245 to 1170 yesterday, a decrease of 7500 points. Regardless of the reason, this drop is indeed significant. This is based on the strong upward movement over the previous two days, followed by a large bearish candle that directly erased the gains of the last two trading days, forming an engulfing pattern. However, this is only a correction phase and does not indicate a trend reversal.

It is extremely rare to see a large bullish candle immediately after a large bearish candle, so it is expected that there will be another drop in tonight's U.S. market. We will see how strong that drop is. The range of 1163-1168 is a potential retracement point, followed by 1147-1148 (at this point, one must speculate).

Last night in the live broadcast, it was mentioned that if the price could not close above 1190, the priority would be to go short. If it closed above 1190, then it would be a retracement to go long. Of course, although it touched 1190, it did not manage to close above 1190 on the 4-hour chart, so what should be done?