I was so sure of this trade!
The deliveroo price entered that channel way back in May 2022. That leftmost fakeout was back in November ’22, I put a stop loss just above that level (slightly above where the gray price marker shows in the image), fully confident that the price would rebound downwards (and yes, I did wait for confirmation).
Oh dear. I can’t really account for the change in behaviour other than there was some news about the company buying back shares. Luckily UK shares don’t often cost that much and I only used a size of 1. This was on the IG platform, even though this failed I will continue trying small value swing trades there, I might even wait and see if deliveroo swings back again.