Price is trending up in a clear 5-wave structure.
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Price broke out of resistance level and completed impulsive wave 3.
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Price is currently retracing back to retest the broken level and has the potential to move up towards the resistance level.
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To take advantage of this setup, we will have to wave for the completion of the corrective Wave 4 at our confluence level and wait for the breakout of the blue counter trend line for a long entry.
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Thanks for reading!
.
Price broke out of resistance level and completed impulsive wave 3.
.
Price is currently retracing back to retest the broken level and has the potential to move up towards the resistance level.
.
To take advantage of this setup, we will have to wave for the completion of the corrective Wave 4 at our confluence level and wait for the breakout of the blue counter trend line for a long entry.
.
Thanks for reading!