The upward trend of the Elliott Wave Theory has finished, therefore I anticipate that the correction (part A) will now begin over the next few days hence this is a long term trade with a slightly larger SL but still the same Risk Return ratio. As this is a long term trade I have used a smaller lot size. Once again, it seems the case that this pair is overbought on a 4hr graph.
SHORT ENTRY @ 83.67
SL @ 84.28
TP @ 82.74
RR @ 2
SHORT ENTRY @ 83.67
SL @ 84.28
TP @ 82.74
RR @ 2