Treating this as a No.4 wave Elliott, where the No. 4 wave is often saturated with flats and triangle, i'm awaiting confirmation of the next two candles to verify a move down to second channel line. If the market presents a catalyst in favor of my direction. i wouldn't be too presumptuous to set a limit order at 1.31515, rather i'd prefer to bring my stops past break even to a retracement level (cannot be selected now) , watch a lower time frame for reversal candles at target in the event of higher volatility, hold out for further gains downwards. we also have slight divergence showing on stochastic (but not confirmed). presents a good win/loss ratio, using the first stop loss = more gains than second since stop loss should determine the amount won.
