This was a pre-mature entry. Lesson: wait for consolidation which we might see forming here. If not we may see a bullish wave forming. In which case we can monitor that wider trend support for the wave and look for RSI bearish divergence to form.
I think your direction is correct... I fell into the same issue yesterday.. Your trendline break is great... I think on these sometimes patience is a virtue and the thing to do on 2 and 4 hour timeframes is to break the CTL and pull back to it... Thanks for posting.
I have a new view of this pair now. A "looser" (can't think of a better term) trend support which I'm more comfortable with and adheres better to my strategy then the nearly vertical trendline in the original chart.