It might very well be that Price will retrace after this recent impulsive Swing-Breakout.
But... there is a more significant Swing-High Resistence waiting above + the RRR will be much better.
Knowing that ABCD like movements often set up exactly like this:
1. Impulsive move "though" Highs/Lows
2. Some wedge or triangle consolidation
3. Another impulsive move for +/- the same length than the first move
If price does not retrace significatnyl and then continues rallying into the next red area I'll be definately looking for a countertend trade
But... there is a more significant Swing-High Resistence waiting above + the RRR will be much better.
Knowing that ABCD like movements often set up exactly like this:
1. Impulsive move "though" Highs/Lows
2. Some wedge or triangle consolidation
3. Another impulsive move for +/- the same length than the first move
If price does not retrace significatnyl and then continues rallying into the next red area I'll be definately looking for a countertend trade