No doubt - in big picture we've been consolidating near a former massive support zone and from a certain point of view, one could say that this is the first proper re-test.
If this was a H4 (240min) chart - would you go long here? - Most likely not as you would consider this area as a resistance. Even if it would eventually break higher, these break-outs don't usually happen on the first attempt. As you can see on the chart, it took 3 attempts to break the support, why not 3 attempts to break the resistance?
If this was a H4 (240min) chart - would you go long here? - Most likely not as you would consider this area as a resistance. Even if it would eventually break higher, these break-outs don't usually happen on the first attempt. As you can see on the chart, it took 3 attempts to break the support, why not 3 attempts to break the resistance?
