Euro/IWM Trade

So I just entered an options trade on the IWM, January 75 Puts and here's the reason why...

(remember this is a short term speculative trade)

 On a 5 min chart you can see the Euro testing the $1.30 area and backing off a bit.

 Here's a 1 min chart with a small bullish ascending triangle that most traders would probably have expected to push the Euro through the $1.30 level, instead it failed and we have the start of an intraday downtrend. Remember that the market runs roughly in line with the Euro, especially over the last week or so, which has been all about the Euro

 The FXE/Euro 1 mn 3C chart

 FXE 2 mn

 And FXE 5 min are all a bit negatve.

 I didn't choose the SPY because it is pretty fairly correlated with the FXE/Euro.

The IWM is a bit rich to the correlation and therefore has more potential downside.