Interesting 1-2-3 Setup. The midterm downtrend is full intact. Today the Pair has reached the upper edge of this trend. Swing Trader would prefer a short Position at the actual Level, with SL based near the last High, the last "3". This is the risky Setup. A risk reduced Setup is the caclical shortposition, which can be opende, when we trade below the last LOW, the last "2" at 14.1. The preferred sl should also installed near the last "3" to be consistent with the 1-2-3 trading pattern (for further Information have a look at: )
Long Position can be opened, when the Pair is trading above the last "3", TP would be the last longterm High at 17.0