CLOSED TRADE: EURUSD: SELL@1.12074 Wave Count (-41 pips)

Closed this trade for a -41 pip loss. After breaking the recent high point (1.12447), this pair seems headed for the upper trend line of the triangle pattern where it may then turn bearish (see Related Ideas: "ANALYSIS #1: EURUSD: BEARISH In Downtrend But How Far Will Go?" posted 4 days ago.)

Second failed trade in a row on this pair. Damn! Seems that this wave (4) is much more complicated than I thought it might be. Or maybe my counts are wrong and this isn't a wave (4)? I'll need to re-analyze this pair and see if I am off-base. For now, I am just going to sit aside and wait for it to reach the upper trend line of the larger triangle pattern as I stated in my bearish analysis. But when it does get there, I will need to see bearish price action before I take any SHORT positions. I'll be watching.....