We teach a class, SMB DNA, and a student asked this question about the chart above from this class:

As you can see from the chart, after price broke above 238.40
and traded above it, price tested and rebounded from the level 4 times.
It seems to me that this suggests the level is significant intraday as
well. The 3rd and 4th time could have been good locations for entry with
minimal risk, since we will be buying support in a range.

What are your thoughts on this? Or is there a particular reason why your trader decided to not trade the support play?

Essentially the student was saying: You guys are teaching X but can I trade Y?

Answer: Yes.

We were teaching a High Beta Technical Breakout Trade.  The student wanted to trade a High Beta Support Trade.  I like this trade for him/you if:

a) it makes sense to you

b) you experiment taking the trade in real-time

c) you measure the results of that trade

d) the trade is profitable for you

e) you continue refining and improving this setup for you

This is your business.  This is your trading career.  Take trades that make sense to you.  Take trades that you trade profitably.

*no relevant positions