This form of corrective pattern is called irregular flat, or expanded flat. So i decided to give it a textbook shot. Considering the first decline from july 7th highs is pretty convincing, i think my chances are very high. i`ll move stops to b/e as after an impulse move down.
edit: The shorting price is based on smaller time frame wave 5 projection. Otherwise the pair can be shorted at the market, and stops just above the 162% (2.30500) should be safe.
edit: The shorting price is based on smaller time frame wave 5 projection. Otherwise the pair can be shorted at the market, and stops just above the 162% (2.30500) should be safe.