the bounce happened off a old support, but couldn't get through the more recent resistance. will it track sideways in this channel for awhile? Who knows?
trendline broke down. should i have sold when it first broke? was the next up just a bull trap?
the support then broke - the one i thought was solid - and its heading down. Will it bounce off next support?
Overall it feels bearish short term
Put support and resistance on to chart. Not totally convinced of my efforts, but that original resistance is born out of repeated testing, and it follows that it would then become support once broken.
Not sure if i have used optimum time frame, or if i should have used the 3rd low point as trendline confirmation. If i had the latter, would that have meant the 4th test would have broken it?
