I took a short on this earlier from 1.2056 targeting those exact SLs. Now that I see that we reached the lower part of channel and a buy arrow appeared I tightened my stops a lot .
What I guess a great entry long might be after it clears those SLs below especially if for some reason some shorties join the market.
Looking at how George taught to lay out charts if we see a H4 reversal we may run into resistance, or short term reversals, at key levels marked out. But IDK