142.8 represents a 1.27 extension on the XA leg of the pattern as well as a extracted from m15 . The 2 measurements are within a 10 pip distance.
The dashed line at 143.2 is the general stop loss area.
Once again this is not a blind trade, meaning we do set a sell limit order now at 142.8 with a SL at 143.2. We wait for for 142.8 to be hit after which our execution rules go in effect.
There is a difference between a trading strategy and a trading system. This is one of our strategies. There is also not just one way to trade, i.e. the trading system. Once 142.8 is hit each trader might short using his/her own system.
Down target for the move is 139.25 and 140.65 should be used for management.