Price has already touched the and is beginning to show signs of reversal after the candle! Price is also about to make a on the 1 hour chart. Taking this into consideration, this will be a good area to enter a short position. Price is also re-testing previous support which has turned to resistance due to the change in trend.
With 5.0's they are invalid once price reaches the 0.618 level retracement level, so our SL should be just above this point. Risk as always should be a minimum 1:2.
B = 1.13-1.618
C = 1.618-2.24
D = 0.5
Analysis will be updated as we go along!