This is a 0.5% risk trade I am currently in. the downward move looks impulsive to the downside and I guess there is still high probability to continue going down. And from looking at AUDUSD (still to go down) and NZDUSD (going up and currently finishing wave 2 down) this trade seems ideal :)
another "conservative"short entry could be entered after the price breaks the lowest point of wave D (1.1037) with SL @ the highest point of wave E (1.1089).
Technicals:
Wave E now is perfectly equal to 0.618 wave C.
Wave C is perfectly equal to 0.618 wave A.
Risk-reward ratio (2.4:1)
another "conservative"short entry could be entered after the price breaks the lowest point of wave D (1.1037) with SL @ the highest point of wave E (1.1089).
Technicals:
Wave E now is perfectly equal to 0.618 wave C.
Wave C is perfectly equal to 0.618 wave A.
Risk-reward ratio (2.4:1)