Price stalled right at that old line and turned lower. Traders call this setup a resistance rejection. That same level used to hold price up but held it down this time. Price tested it twice and buyers couldn't push through so sellers took control. A trader would watch for that rejection candle and look for a short entry.
Learn this setup step by step: https://thenojoblifestyle.com/web-stories/resistance-rejection/
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Not financial advice. Trading involves risk and you can lose money.
