Look Above and Fail

A specific type of market movement where prices rise above the high of a balance area and then fall back into the balance area.  The theory is that  if this happens, there are strong odds that there will be price rotation back down to the low of the balance area.

Look above and fail is specific to activity around balance areas only.  Rising above a prior day’s high or any technical level and falling back below is not a “look above and fail”.