This is a great zone to short the retest, but the problem is the consolidation prior to the move up to retest. When you get that consolidation, you can assume it will act as support on the way back down. When price fails to build supports before retesting a level, it sets up a higher probability short opportunity. You can also assume the move up will have more power because it has had time for accumulation/forming of structure. Build up pressure and the pop is usually more powerful.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.