Not sure I understand - you think it will double test 3.13 area and this is the first test?
For me that would require an adjacent buyer to the short position who is buying against a value thesis.
This price action all looks like market makers trying to build positions (engineer liquidity) around selling to the breakout buyers and sellers. The small consolidations are positions being built inside the noise then they get dumped into once price penetrates an obvious swing high/low.
Right now price is moving to an area where it moved quickly / inefficiently, and it will consolidate. Waiting for this behavior and its conclusion is something a trading strategy can be built around.
(You can flip that chart above and apply it to the short side)
Not sure I understand - you think it will double test 3.13 area...
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Last
$2.96 |
Change
-0.100(3.27%) |
Mkt cap ! $558.2M | |||
| Open | High | Low | Value | Volume |
| $3.08 | $3.08 | $2.96 | $1.630M | 544.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 13888 | $2.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.00 | 2552 | 4 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$2.96 |
Change
-0.100 ( 3.33 %) |
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| Open | High | Low | Volume | ||
| $3.05 | $3.05 | $2.96 | 98253 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| WBT (ASX) Chart |