This is my single favorite trade. You can chart this on a blank chart with no other indicators. This is basic support and resistance.
These show up all day long on a 5 minute chart. You are not going to get rich making 10-20 handles on these trades, but they can provide you with steady income.
Stuck longs. These are people that bought and area and it very quickly sold off from that area. They decided they knew it all and did not honor their stops. The market has sold off and they are praying and wetting their diapers hoping price gets back to that level so they can get out and get their money back. You could take advantage of their fear with a short order where they got stuck and get a few tics or a handle out of it as they cover their bad positions.
On this chart that is around 2564
You had a similar setup with stuck shorts around 2538ish. You could place a waiting long order at that area and expect to gain a few tics as the stuck shorts cover.
Do not get greedy with this setup. Take 2, 4, 6 tics and get out or scale out and move your stops to your entry level after the first scale.
Practice in sim first.