The instrument has pulled back after the strong 200 SMA 8080 level break. This pullback is offering a good selling opportunity for a possible new wave lower into the 3000-4000 zone.
The H4 chart is revealing the entry point, the stop loss level, and a target. The entry point should be at this market levels, the stop loss should be above the broken and retested zone 8600 level and the take profit level is 3355.
RR ratio 1:3
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Happy trading! (click on the chart to enlarge it)
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