I have reasons to believe that a gain of 16 pips can be acquired off a drop as I analyzed on the 5 min interval. It's already in a down trend, there was a double tap off resistance zone and there were not any key levels of structure in recent past that can serve as an obstacle for this 16 pip drop. Now the RSI is at the midway point and shows there is plenty of room for price to go the other way. This is why I put a STOP LOSS just above the second resistance zone above the first one.