Price is in a downtrend respect to the wave counting, but at the same time I pointed out the formation of a corrective wave range 1806 - 1810, in the left corner I pointed out the order block leave from the past order flow. Price is moving from minor supply to form new liquidity over 1766.
In our case, the price has pushed away from the supply and is aiming for a strong demand level, relative to which there true breakout last swing high. Whether or not there will be a breakout at 1781.5, I cannot say for sure, we will have to wait for the price's reaction to that level.
My priority is a pullback from the level, and after the pullback I expect a continuation of growth. We continue to monitor the price.
In a pullback, I will stick to the level of 1797, and in case of a breakdown of the resistance, my target will be the level of 1766.
Regards, AbsoluteNJ
In our case, the price has pushed away from the supply and is aiming for a strong demand level, relative to which there true breakout last swing high. Whether or not there will be a breakout at 1781.5, I cannot say for sure, we will have to wait for the price's reaction to that level.
My priority is a pullback from the level, and after the pullback I expect a continuation of growth. We continue to monitor the price.
In a pullback, I will stick to the level of 1797, and in case of a breakdown of the resistance, my target will be the level of 1766.
Regards, AbsoluteNJ