Pin bar peak on 21/08/13, making a lower high from Junes High at the end of an almost perfect measured move.
Going down to prospectively <1.48? Will target 1.54 initially, see how price reacts and possibly add to short position at 1.54 if PA dictates a lower move.
Entered at 1.5607, SL @ 1.576 TP1 @ 1.54
Thats true, but we have negative divergence in 4hr chart with MACD and CCI from 8th August providing me with a slight confidence boost. With the doji, if you were bearish on the cross in order to protect your equity you could place a stop above the high of the doji but I placed this trade with the anticipation of holding for a while hence the wider stop