EU Short 05/16/2016

FX:EURUSD   Euro / U.S. Dollar
85 1 3
Weekly TF:
Bearish Pinbar rejecting at the strong weekly resistance at 1.4666

Daily TF:
The bearish move underway. Broke out of the trendline .

4Hr TF:
With the bear move down, I am anticipating a 61.8% pullback up to the red line, which is a previous S/R level , aligned with a retouch of the trendline previously broken.

Entry on the 4hr:
Entry at the 61.8% pullback
Stop above the previous high.
Target at 1.10971, may hold onto it if the momentum is good enough.

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