This corrective structure hit the 5th or the E wave on what we call the 'head' of this pattern so are therefore more likely to see a break of the bottom if we see a break and close below the neckline of the . If price doesn't break and close below this level it is likely to instead break through the top therefore ruining all possibility of a short entry.
I entered yesterday, the 4th October, to get the best possible position for this short as can be seen on the chart.
This position can still be entered at a lower level when/if price hits the bottom, after it pulls back for another run south indicated by the red and green arrows.
This still offered a great risk reward so I am not too bothered by missing out on 10 pips.
Hope everyone who got short on this enjoyed the ride.