As of now looking in downtrend Made a Double Top and fell from there Price gets retraced and find its rejection Zone/Supply Zone , Rest I can see one gap is there and made support and resistance for you bigger picture will clear above and below only.
123 reversal setup is a basic on-chart formation, that warns about upcoming trend reversal.
Setup The 123-chart pattern is a three-wave formation, where every move reaches a pivot point. This is where the name of the pattern comes from, the 1-2-3 pivot points.
Rest you can read about 1-2-3 Reversal pattern strategy, you will get Clear Picture. All the best.
Gratify if you appreciate the practice then you can like it, share it and If you want me to investigate any chart for you then would cherish doing that for you. Thank you for your time and support. Stay safe.
@bhikhu65 I don't think so, it's a reaction zone most probably it may break and the current wave in motion and we don't know when it will be complete, let it settle in my opinion rest your risk and your trade management will do the work for you. all the best
bhikhu65
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Thank u. Will wait.
Anany_shringi
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@bhikhu65 do let me remind after the gap is filled we ll see there 😀.