I like (perceived) "failure" points - a level is broken and then comes right back to it surprising all the breakout players and all the suckers who chase (we've all been there). I refer to this sort of thing as a "push-fail". The market is pushed, then it "fails" according to whomever was looking only in that direction, but really it was a net to snare the unwary into providing liquidity either for working big orders (and so price will not take off immediately but go back to the zone a few times) or to simply provide a nice strong stop order lift off for further work away from the zone. The market is all about order flow and so I'm trying to hitch a ride with those who are seeing and filling those orders. Surprise is an important component to moving the market and so we have to embrace that, and find the places that will give the biggest surprises. Sometimes however you get a lot of notice if you know what to look for.
Here we have a shorter term move down (mauve fork) that ran into a longer term up fork (blue) and showed immediate reaction. It had just taken out the low of the move down and I take particular note of this kind of thing as mentioned above. Note that when it was moving down I was looking the other way as well as working my shorts still from the mauve fork. It is important to be looking both ways and when evidence tilts from one to the other you simply trade that way, instead of just looking one way and TRYING to trade it.
As we see the bids mounted and finally we got a break north out of the mauve fork up to the pink line that happens to coincide with the 1st warning line as well.