Disliked1)3)40 points away...if range bound,then closer to the top of it now and a good reason to shortIgnored
But if the trend I identified is correct, meaning its up, the odds that our stop is hit is bigger although we risk less capital.
Of course, if the trend I identified is wrong everything I said doesn't hold. Guess we need to go above 1.6160 first and 1.6175 after to confirm the trend is resuming.
PS: I'm guessing there are by now tons of SL orders above 1.6175 and below 1.6100 which can be interesting to play the breakout.