…ends up with smelly fingers.
Old sayings get old because they’re true. Picking bottoms is very difficult, especially after a period of very constrained range-trade. Traders assume the market will revert to ranges while fighting the dominant trend until just before the bitter end.
EUR/USD is showing no signs of turning just yet, so if short, set a reasonable stop above 1.2825 or so and let your profits run.
1.2625 is the next obvious target, followed by 1.2500 where loads of barriers are struck. That level could prove a magnet if downside momentum remains intense.