DislikedHiya cprao,
I hear ya on this short...With regards to identifying S/R, I've always been a highs and lows type of guy. Then one day I read some stuff by Jaroo (sorry if his name isn't exact, it is something similar though) in the J16 thread and he seems to put a lot more emphasis on the closes. I studied my entire data bank of daily, weekly and 4 hour data across the majors and much to my surprise he is onto something with that....I did not play your short, but to be honest I probably would have entered similarly to you but given it a wider stop...Ignored
In fact, my initial SL was = 1.621. Had I not closed the trade manually, It would have hit my TP..
I closed the trade since I did not like H1 bar closing above my level.
Hence I closed it at :1.058.. for a 30 pip loss.
Overall, I guess it is not a bad trade..