On the way back to the office, Li Xin has been thinking about such a question: after the gap opened low this morning, the price of futures copper is getting lower and lower, and by 11:30 a.m., the price of 53,390 yuan has fallen by 3,070 yuan compared with the price of 56,460 yuan yesterday.

There is no sign of bulls rebounding at the low level during the more than two hours of trading in the morning, and after the opening at 1:30 p.m., how will the price go?

Although when he talked to Yuan Jie on the phone at noon, he vowed that he would wait until the price fell below 50,000 yuan before closing the position.

However, in the rebound from August 13th to August 22nd, his profit of more than 70 million yuan disappeared more than 50 million within a few days.

In the rebound from September 8th to September 12th, his profit disappeared by more than 40 million in three or four days.

The setbacks caused by these two rebounds in copper prices at low levels left him with lingering fears.

After today's opening, up to now, the extra profit of more than 60 million yuan in the account overnight has made him think more.

Although he also knows that the current downward trend indicates that the downside has further increased the downside below. But after all, that is only technical analysis and judgment, and it is still unknown whether the market will go like this. Didn't the two rallies that have just passed happen after a sharp decline?

After thinking about it, he still can't be careless, he must keep an eye on the trend of the market, and if he finds something wrong, he has to leave the market quickly. Past experience has taught him that the harder the fall, the stronger the rebound.

At 1:30 p.m., afternoon trading opened.

Li Xin's worries did not appear, and the market further sent him a big surprise: as soon as the market opened, the price was instantly hit to the fall limit of 53,180 yuan!

In just a few minutes, the number of sell orders accumulated to more than 30,000 lots, while the number of buy orders was 0.

If a few minutes ago Li Xin was worried that there would be a strong rebound in the afternoon after experiencing a volatile and falling trend in the morning, now he is completely relieved.

After the opening of tens of thousands of hands of selling orders instantly hit the price on the fall limit, at such a low point instantly poured out such a large number of selling orders, this is simply not the initiative of the bears to suppress the move, can only be a multi-party completely admit the loss after the stop loss to leave the order.

Because the reason is very simple, before 1:30, the price of 53,390 yuan is not much space from the 53,180 yuan drop limit, the short side in this place to press downward, there is not much room for profit, but at such a low point to enter the short single is to face a great risk, as long as the price rebounds at a low level, the new entry of the short single will appear huge floating loss. It is impossible for the empty side not to know such a simple truth.

But it is different for the bulls, the price of 53,390 yuan is only 200 yuan from the 53,180 yuan drop limit, if you don't hurry up to escape in this position, if the price is pressed on the drop limit, the bulls just want to stop loss and leave the market can not run out.

If the stop loss of the long position cannot be stopped today, and the stop loss of the long position continues to come tomorrow, the loss of the long position will be extremely heavy. Therefore, Li Xin dared to conclude that the selling orders of tens of thousands of hands must be long stop-loss orders.

Such a move shows that the parties have collapsed.

This is the result he most wants to see, once the bulls admit losses and leave the market, the price will fall rapidly, and the integer mark of 50,000 yuan that he expects will not be long before it is reached.

Looking at the straight line on the time-sharing chart that was pressed on the drop limit, Li Xin, who was very excited, couldn't sit still, he got up and turned back and forth in the office twice, retracted his right arm as he walked, clenched his fist, and slammed it out diagonally, saying "It's done" in his mouth!

Only he knows how difficult it is for these 4,000 short orders to stick to the current falling limit.

Looking at the falling limit in front of him, Li Xin knew that it was almost a sure thing that he would continue to fall sharply in the next few trading days.

Looking back at the trend of copper prices in the past two months, we can see that each wave has fallen faster than the last.

On July 23, the copper price fell from 62,690 yuan to 55,410 yuan on August 13, a decline of 7,200 yuan in 20 days.

This wave of decline was followed by a 10-day rebound, and the price rebounded from 55,410 yuan to 60,690 yuan.

Immediately afterwards, the price fell from 60,690 yuan on August 22 to 54,620 yuan on September 8, a drop of 6,000 yuan in 15 days.

After a 4-day rebound, the price rebounded from 54,620 yuan to 56,460 yuan.

Comparing these data, it can be seen that the time taken to fall is getting shorter and shorter, and the room for decline is getting bigger and bigger.

At the same time, the time consumed by the rebound is getting shorter and shorter, and the strength of the rebound is getting weaker and weaker.

Today's trend is even more telling, last Friday's K-line chart is still a circle bottom pattern that is about to break through, and today it plummeted to the fall limit, down 3280 yuan. This big black line is like a cliff, which makes the small arc bottom of a day ago look a little funny: after four or five days of hard work, it was beaten back to its original shape in the morning.

On September 5th, it fell by 1,300 yuan, and on September 8th, it fell by 1,500 yuan.

Just when Li Xin thought that the overall situation had been decided, the price trend made him break out in a cold sweat.

By 1:35 p.m., the more than 30,000 selling orders on the stop-down board began to gradually decrease.

Seeing this phenomenon, Li Xin secretly felt that something was wrong: This shows that the low-level buying order has come out, do the bulls really dare to fight back in this position? If that is really the case, then when the market opens at 1:30, why is the order of more than 30,000 stop-loss exits? Or is there a new bull entering the market at such a low position, or is the main bearish force starting to make a profit in this place? If that is the case, will he also take profit and leave the market?

It is said that it is too late, and the rate at which those selling orders sealed on the falling limit board is decreasing faster and faster, and after a few minutes, there are only two or three hundred hands left on the selling order.

At 1:39, the limit was finally opened.

A minute later, at 1:40, the price came from the price limit of 53,180 yuan to 53,240 yuan.

Although the 60 yuan that rose is insignificant compared with the more than 3,200 yuan that fell throughout the day, the information contained in such a move as opening the fall limit is very rich.

Li Xin gasped, and he knew the truth that the more he fell and the more he rebounded.

The fear that the price would rebound strongly at the low level that had been haunting him all morning once again hung over him like a dark cloud.

A few minutes ago, he thought that today's falling limit had opened up a huge downward space, and now he had to start to change his thinking and consider whether to close his position near the falling limit and leave the market.

Just when his heart rate was increasing and his brain was running quickly to consider whether to close the position, another wave of surging selling orders appeared, and the price was beaten back to the limit by more than 5,000 sell orders a minute later.

After Li Xin saw this situation, he calmed down and analyzed it carefully, thinking that this situation is the same as the wave of a large number of selling orders that appeared at the opening of the market at 1:30, and these selling orders are absolutely impossible for the bears to add short positions in this place, and it can only be a list for the bulls to stop loss and leave the market at this place.

Because the price has been pressed on the down limit a few minutes ago, there are many bulls who have no way to trade even if they want to stop the loss and leave, and now the price is pulled up to the fall limit, and you can take the opportunity to run away, such an opportunity is a rare opportunity for the bulls who want to escape. Because if you don't go at this time, the price is sealed on the down limit again, it is difficult to say what the situation will be after the opening of tomorrow, in case there is another down limit, or continue to gap down by five or six hundred points, the loss will be even greater.

After the price returned to the down limit, the number of selling orders accumulated increased to more than 20,000 lots.

There are a lot of bulls who want to escape!

This situation will cause the price to fall even lower tomorrow.

It has to be said that the price falling to this position has brought tremendous psychological pressure on both bulls and bears.

Especially after the fall limit is sealed, the move of opening the 1:39 down limit is very likely to be unsealed for the shorts with huge profits, in the remaining hour of trading.

If the down limit is really not sealed, then the position on the down limit is the best position for bears to exit the market.

Li Xin's mentality at this time is like this.

The more than 20,000 short orders piled up on the screen is a great opportunity for him, and his 4,000 short orders can be closed and left in just ten minutes without causing any fluctuations in the price.

Since the sell orders near the down limit are most likely to be buy orders for long stop losses, then those buy orders that open the down limit are most likely to be short profit orders in this place.

Of course, it is also possible that a buy order in this place will be an open order for a new long buy dip, but that is very unlikely. Because the reason is very simple, when there is a falling limit, it means that the downward trend is still there. To buy and open a position near the down limit, how much psychological tolerance is required for bulls.

After thinking about this truth clearly, Li Xin suddenly realized that even if the price was on the falling limit, there were many bears who began to leave the market, and he couldn't be careless at all.

Sure enough, the move to open the fall limit affected not only Li Xin alone, many profitable bears began to gradually reduce their positions in this place.