Disliked{quote} My guess, is that price is going back to stop out breakout traders that have moved to breakeven.Ignored
May also be because the only logical place for there to be enough orders to "overwhelm" price on a retrace after a strong move in any direction would be at the closest previous suppport/resistance flip. Liquidity should be a little dry on the way back up after a strong move down and visa versa.
Thats my theory.
Anyone else have any ideas?