To hold back taking a position on this pair until price hits significant price level to decide on entry. Blockers at the upside on higher timeframes make it unlikely this pair is going on an uptrend anytime soon.
Trade active:
Entered 1/3 short position on current price level, to prevent missing out on a melt. Plan is to scale up as the price falls further. Small risk to take as stop-loss set if the current set-up becomes invalid
Trade active:
Sell limit @ 1.11677 hit
Trade closed: stop reached:
2/3 of trade size sold at 1.11677 hit stop loss. 1st position still in play.
Existing position stop-loss shifted to profit