Price does reflect everything but when why every level is not important, Specially in strong trends while price bounces off support and resistance consistently, and provide you hints that price is about to reverse.
But when price start reacting with slow tempo, after the strong rallies, then still it would some more reasons for the reversals
Intra day Price action Reversals
The chart below of usd/chf is pointing towards test of high atleast but we have to cross that strong "new supply" for the price to gain momentum and react as expected and It has tried once but not succeed.
If we manage to stay below and manage to create a new low, then I would assume that downtrend is confirmed, but if we strong cover that area with ease, and price start gaining momentum, then short term reversal would confirmed.
Whenever we see opportunities, then we need to see the logic, means there has to advertising mechanism, when supply and demand exchange hands, and when that happens price use to trap retail traders, and when you plan to short rallies, ahead of big release then short covering give you heavy losses.
Now when stops have been taken both sides i.e longs and shorts price action has become neutral to breakout level. Below is my view about that opportunity.
