- There has been a very large trap on daily in terms of an SL hunt. The strong force of buyers would have enticed people on the wrong side of the market, providing lots of liquidity for sellers to build up positions at good, high prices to prepare for a big move
- Price has broken down below the weekly support, which is stale, having been tested 4 times already without any buy swing making even an equal high
- This indicates that the weekly support is weak and is about to break
- The sellers have created a lower-low, showing that they are in control
- We enter upon signs of rejection at the logical breakout retest area that coincides with the lower high.