- Price made a resistance level which it failed to break & close above for many hours. - Price did eventually smash through this strong resistance and touch daily resistance, before falling back on the weekly close. - What I expect to happen now is a retest of this previous resistance level to grab liquidity to retest the highs at daily resistance. - A long at new support should give a nice 2:1 Reward/Risk and possibly more if we can break daily resistance
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Price didn't come down as far as the shown demand zone before bouncing higher. No retest, no trade