W Pattern Forming on EUR/USD

We've seen at least 1 clear W pattern and at least 1 clear M pattern recently, I can only assume that the same thing will occur here, especially since it's bouncing perfectly off the Fibs. Short for now, I placed my stop at 1.1 and my close at 1.0845, to be safe. I could probably lower my close to 1.0835 if I really wanted, but this is my first trade, so I'm gonna take ti slow.