EURUSD is moving well within the channel so it may not be wrong to believe that it will touch the support of the channel where we may enter for long entries also.
Bag more pips, another short , another shot ;)
We Will only look for 100 pips as we are looking for a strong down move later.
Take the entries as per your trading style (aggressive or conservative). 1. Aggressive traders will take positions from point E. 2. While Conservative traders will either wait for a test of support line below point E. 3. There's another category of traders that are more conservative will take positions at the break and retest of the flag.
Aggressive traders who believes in high risk high reward concept may start taking short positions from 1296.90 and may short again at 1305.23. While for conservative traders they may go short once at 1305.23 and take another position when price breaks 1296.90.
On a daily time frame you can easily seen that price has reached resistance, now we will analyze the price chart on lower time frame to confirm the pull back.