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)
Charts, page-4774
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Last
$2.26 |
Change
0.000(0.00%) |
Mkt cap ! $426.6M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15 | $2.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.20 | 888 | 1 |
View Market Depth
| Last trade - 09.53am 07/06/2024 (20 minute delay) ? |
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Last
$2.35 |
Change
0.000 ( 4.29 %) |
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| Open | High | Low | Volume | ||
| $2.32 | $2.36 | $2.32 | 1610 | ||
| Last updated 10.13am 07/06/2024 ? | |||||
| WBT (ASX) Chart |
Day chart unavailable