Replies to post #4071 on 123Tom's TA study group

[Citrati]

Yes, it is common when a bar zone is tested that the top of the bar can provide a bounce or the reversal point. It is also common to test part or all of the bar, though if middle is tested odds are it will get close to the bottom if it doesn't hit it exactly. That is where convergences with things like previous retraces and price lows as well as ma points. pivots etc help identify the more likely price points.
Currently the entire bar from 5.30-5.50 zone is being tested.
The bar with a 5.12 is next then bar with the 4.90 top is next.
The bottom of the 4.90 bar is 4.72 and then a .22 bar gap to 4.50
The longer the bar the stronger its is, which makes 5.30 significant to hold or fail.