Price has retraced now to the 50 ema and has given us an engulfing bearish candle on the 4 hour chart. I've taken two positions, one with a RR of 1:1 and the other is near 1:2 in case it decides to test the previous swing low (which is lower than the previous swing low that came before it).
Trade closed manually:
I closed my position for a loss of 35 pips once I some closes higher than the previous swing high. I then went long and actually made a 75 pip profit for a total of 40 pips profit on this "losing" trade :)