More like INVERTED HEAD AND SHOULDERS PATTERN identified and also a TRENDLINE which had been acting as a RESISTANCE
Now standing at MAKE OR BREAK LEVEL as break of 15745 level would not only break the trend line but also the NECKLINE of the potential INVERTED HEAD AND SHOULDERS PATTERN, but candle close is need to confirm the breakout, the safest way to make new long position on retest, it would result in better risk to reward
There is high probability of breaking this RESISTANCE as it has been tested multiple times and the more it tests its RESISTANCE, the weaker it becomes and probability of breaking that given RESISTANCE level becomes higher
Now standing at MAKE OR BREAK LEVEL as break of 15745 level would not only break the trend line but also the NECKLINE of the potential INVERTED HEAD AND SHOULDERS PATTERN, but candle close is need to confirm the breakout, the safest way to make new long position on retest, it would result in better risk to reward
There is high probability of breaking this RESISTANCE as it has been tested multiple times and the more it tests its RESISTANCE, the weaker it becomes and probability of breaking that given RESISTANCE level becomes higher