Idea is to take short position as the price action has reached a major horizontal resistance after a strong bullish trend. Most likely it is going to retrace up to 23.6% fib level so the same is set as target price to take profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.