Looking at the chart, we have seen within the blue box 4 touches of this level. This is filling the retail traders with confidence that a breakout below which is what's just occurred will continue that trend.
Nice long candle this morning clearing the liquidity on buys and now that people are putting on sells they will push the price back up to clear those stops for further liquidity then onto reaching equal highs.
The pink box I've drawn indicates the money they will need to get back at some point so could see this as a long term trade up to that point.
TP#1 is the first green line
TP#2 is the second
Nice long candle this morning clearing the liquidity on buys and now that people are putting on sells they will push the price back up to clear those stops for further liquidity then onto reaching equal highs.
The pink box I've drawn indicates the money they will need to get back at some point so could see this as a long term trade up to that point.
TP#1 is the first green line
TP#2 is the second
Trade closed: stop reached