China 50 is at a point of major resistance - 3 times in 5 years

Confluence

Weekly - At a major point of resistance
Daily - False breakout of a ascending triangle formation
Daily - Forming of three black crows
4hours - Double Top

Concerns

Whether this down move is a part of re-tracement before heading upwards or a breakdown confirmation on the false breakout?

Trading Entry

Regarding this concern, I will trade on the breakdown of the double bottom and take a lower RtoR ratio of 1.38 instead of 1.99 and if the market happens to break down on this formation, good for us, we will ride it down.

Take 50% risk off when price hits the lower bound of ascending triangle formation.

Entry: 14285.2
Stop: 14735.4
First profit target: 13665.8
Risk to Reward: 1.38