This is an example why you should not trade the end of waves.
This latest correction extended too long to accept it as a part of the lates move down.
Well I know (it has very high probability) that this wave is going to extend further to min 1.18 but most probably 1.175 and below.
But at the moment there is a very high possiblity that it will end or ended it's Intermediate move down and will start a correction that will go to 1.198/1.202 but should not go above 1.2065
So I'm waiting for a signal to close my position and I'm going to wait to re-enter short at above levels.
I risk not to see correction that will give me better positioning and I'll have to re-enter on break below recent low (lossing some pips).
I could also leave the position open since it is well protected and it has a great potential over risk, but I don't want to give back too much pips, and there is a chance that I will be able to position even better for the next move down.
However if I don't see a retrace I will enter market either on a good signal for a continuation or on break of the recent low.
This is a probability game
ID
I'm still holding at the moment