The pair has already completed legs A and B of the sequence and leg C is already underway, however there could be a good opportunity to join in. We are now at a pretty strong level of resistance where I expect the pair to "bounce off" of, catch its breath, before the downside continues.
My personal details: Short @ Entry: 1.1800, SL, 1.1850, TP: 1.1470, RR:6.6
For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.