An interesting situation is developing in the analyzed trading instrument. The price is moving with gradually declining volatility, which is reflected on the chart as a narrowing triangle.

It is possible that we are currently observing the formation of wave IV of a diagonal triangle, taking the shape of a contracting horizontal triangle.

If this scenario holds, we may see a slight upward move in the near term to complete wave d of IV, after which the price is likely to decline again to form the final wave e.

Therefore, it is advisable to wait for this minor upward movement and consider selling on a rebound from the upper boundary.

Recommendations: SELL 1.1850, SL 1.1870, TP 1.1735.