yes and no. By that i mean this will probably (and has started to) behave in the way we expect, i.e. to experience trouble at these recent bar high/low areas marked.
It's not in a lot of space and although the weekly TF does show a bullish pin (which the daily pin is part of the bounce from retracement) it has a lot of obstacles. doesn't mean it wont work.
Pros - good pin. ok location - recent swing low. weekly pin shows bullish intent perhaps. Broke without any trouble.
Cons - traffic to the left. Not huge. vry stong...Ignored
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