the dashed red line (aka "longs going down") is where, well, longs are going down. This line is important and will trigger huge amount of shorts. You can sell the market at the break of this line with stoploss at 1. 1400 if you wish, but i prefer a retracement back above to our red dashed line (@1.1050), and then sell it, wit stop at 1.1220.
This type of aggressive stoplosses are as good as your trade management, so exercise caution.