The break and re-test of the trendline is something I believe the MM want you to think - that it's a false break and it's going all the way up, as marked up. Personally, I don't think it will yet. Why? Imagine the number of people who think this trendline is what the banks are using, and "reliable". I believe they could be eyeing the trendline at the bottom, that's if they are looking to buy. Knowing all the stop losses are above the $1500 area and the number of people who have buy limits there (waiting for the perfect break and re-test of $1500) is perfect for them to send this pair crashing down.
My motto for now: if too many people share the same idea you have, that makes you more wrong.
NOTE: The ideas on this account are purely used for documentation and not a signal, nor does it mean I personally take these trades.