After a quick and sharp decline, the price began recovering and clearly reached its previously established high. Buyers were unable to surpass this level. Apparently, this level holds significant importance and will not be easily breached by buyers.
Given this development, it is possible to consider the completion of the upward impulse formation. All waves seem to be in place, and a good correction from current price levels appears quite natural.
Opening sell positions at current levels could be potentially profitable. The proximity of the local high, where the STOP LOSS should be placed, combined with the likelihood of a strong decline, makes this trade interesting and worth the risk.
Investment idea: SELL 23550, SL 23700, TP 21500.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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