The pair is about exactly at this potential Wave 1's 61.8 fib.
If it breaks below that 61.8 fib the bullish Wave formation could be called broken so it would b a good idea to confirm that the bullish wave is broken before entering short with a sell stop similar to the one show. The entry for the sell stop shown is far enough below the fib support to confirm a breakdown of the wave with a stop loss just above the 61.8 fib which should not hit if the wave truly dissolves.
If it breaks below that 61.8 fib the bullish Wave formation could be called broken so it would b a good idea to confirm that the bullish wave is broken before entering short with a sell stop similar to the one show. The entry for the sell stop shown is far enough below the fib support to confirm a breakdown of the wave with a stop loss just above the 61.8 fib which should not hit if the wave truly dissolves.
