Sideways limitation is the key if you want to define break and retest scenario. We can see the price here trying to stay close to the support zone after some long period of time, week or two ago. That is showing us that the bearish pressure is higher. Every time the price comes up, the bears step in and push the price down to the support zone, making it consolidate sideways.
Now, we can define the last lower high there, structure zone, acting as resist for some period of time. With the major support zone together, we can set both directions potential break and retest scenario and go accordingly to the breakout direction
Now, we can define the last lower high there, structure zone, acting as resist for some period of time. With the major support zone together, we can set both directions potential break and retest scenario and go accordingly to the breakout direction