Ok! Here we go
Step 1: So I see that 1.0752 has been tested as resistance multiple times in the daily time frame.
As you have taught in this thread, multiple touches on a level does not mean it is stronger and we should be wary since this is the third test of resistance.
Step 2: The poster used to think the more touches there are on a level, the stronger it is. A trade would most likely be triggered by PA at that level. Yesterday we saw a pinbar formation so most pinbar traders will go short at break of that pinbar. In this case, the pinbar failed and buy-stops will most likely trigger as a result of the stop orders and price moves further north.
This just came to mind. So we see an obvious resistance that has been tested multiple times and a pinbar. The big players will know people will short with stop losses above the bar. They push price up to get in at better price and liquidity from those stop orders. But one thing I haven't learn is when to know if the big player will do that.
Step 3: The poster sold on a decline at previous support after price has moved and players have shown its hand. The two reasons being catching the momentum and quite possibly because the break of the inside bar or break of minor support at 1.3116. The price reversed on them when it revisited the break of support at 1.3090 as a rounded retest.
The long off 1.3090 would've been a classic trade taught here. Sadly I was too greedy and missed the trade by 2 pips.
Step 4: 1.0794 was tested multiple times as resistance around May, then as support during July and that was the last time price has seen this level. This would be the first time back to retest previous support as resistance.
As far as this goes, I'm viewing this as a level that was previously support and now first time resistance so it would be a short signal. As for what's more than a level...that I'm not quite sure!
EDIT**
I was going through my chart and was wondering if what is happening with AUD/USD at the moment is synonymous with GBP/USD earlier this week at the 1.5777 and 1.5886 level.
EDIT#2
Nvm...just saw that the 1.5886 level was actually last time resistance not support. Missed that swing high as I was scrolling.