Here is a closer look at the potential ending diagonal (at micro/purple degree) in the Euro, and the associated low risk/high reward shorting opportunity, as well as the proper entry point for this strategy (in my opinion), and most importantly, where the stop would go (about 5 pips above invalidation).
Remember, this is my alternate count. My primary count, which admittedly is looking a bit questionable today because of the lackluster upward momentum, calls for the Euro to move all the way up into the 1.43-1.45 area. For that count, see http://sidscharts.blogspot.com/2011/02/eur-usd-february-23-2011-weekly-candles.html.
The key to this strategy is to get short just as close to that stop as possible, which makes the potential loss quite small . .
