As price broke down past the previous support level, that level ‘flipped’ to resistance levels that act as high-probability entry levels if price retraces back up to them. The main idea is to first identify a trading range, which is basically just price bouncing between two parallel levels in the market, and then look for price action signals at those levels or look to fade the level on a blind entry. As price approached that level on a retrace some months later, we would have wanted to be sure to have that level on our charts as it was a strong level to look to sell at either on a blind entry or on a 1 hour, 4 hour or daily chart sell signal.