on the daily there is a pinbar set up with a recent triple top around 1.240 the 50EMA offers support around 1.1068. On the smaller time frames(15Min) the 50EMA is resistance at 1.1200. To me on the short term this is a better short. Although the trend is up. I seem to be more of a swing trader though than a day trader, but it appears as those the 50EMA has been respected of late.
Thanks so much for your input. What we are doing on this is just trading it into the highertimeframe fib extension. So what I do is leave it after I make 100 pips on it and it runs to the fib extension. Works pretty well for us at roughly 2500 pips per week and roughly 8500 to 10,000 pips per week.