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.