The price reversal zone on this pair is between 1.2480 & 1.2511
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2373
Stop loss would be placed above X leg .
Target 1 - 1.2432
Target 2 - 1.2404
I personally wouldn't, not that it would be a bad idea but for me personally it wouldn't make sense to short now.
There certainly is a possibility of a further push lower if price breaks below 1.2404
There is no secret, it's all about consistency and knowing market structure.
It has taken years to implement my rules so it's all down to hard work.
I hope all is well.