I was wrong yesterday, I did not pay enough attention to the lack of volume in what I labelled as tests, these were actually signs of weakness, the low volume suggesting an absence of interested buyers. After the failed bullish breakout (UTAD) it looks like what I thought was an accumulation event was actually an incomplete redistribution event. Now in phase E - which means a failed retest of the lower structure should confirm another bearish trend. We'll see. Trade safe everyone!
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