Lol that level only revealed itself at the end of the pattern. Picking 19900 or 19800 would have been valid prior.
Price bounces off that 19700 level 6 times in total. After a few times in a short timeframe you know it's pretty significant.
The first test if 19700 was a brand new level...the second test confirmed a double top, and then the final 3rd test.
The more a level is tested, the less faith I have in it If I miss the 1st retest then I might be tempted to skip the next ones. I freak out when it’s too easy to get filled.
But he's talking about the 19700 level. Son, I don't have the patience to teach you basic Price Action. Just thank God @Scataphagos is here to do it for you.
You are trying to make an arbitrary line make sense after the fact...anybody can do that. You need to know the levels BEFORE they happen.
Price bounces off that 19700 level 6 times in total. After a few times in a short timeframe you know it's pretty significant.
It didn't bounce six times. You had a double top, a long drawdown and then a retest or triple top..... which probably fails 50% of the time...either by not retesting or breaking out. You should brush up on your Brooks.