EUR/USD short term bearish trend

On the 1D timeframe the price appears to be consolidating after a break to the downside, but the price has also rejected the 50-period EMA, on the 1H timeframe the price range on the 1D timeframe can be seen as supply and demand zones, so this could be some good trading setups, albeit enforcing proper risk management. the consolidation highs seem to form a confluence because of multiple long wick rejections mixed with what is either a range in the higher timeframes, or a slight pullback. Either way it does appear that bearish momentum could start picking up as EURUSD has rejected a resistance level recently on the 1D timeframe, so I may be expecting a downtrend to be picking up soon.
I might exit the trade early tomorrow as there are news events said to come out (they are low impact news events, but I wish to trade safely and not take that risk)

##Please note: I do not provide market signals, this is purely for journaling purposes and educational purposes, I am not responsible for loss of capital so do not take this idea or any other as financial/trading advice. Without further ado, happy trading!

Transaction en cours:

Sell market order

* Sold market order @ 1.09713
* TP: 1.09420
* S/L: 1.09851

If you use trailing stop:
* TS: 133 pips from entry

Commentaire:

* S/L has been adjusted to: 1.09900

spreads have surprisingly not yet stopped me out of this trade, however no further S/L negotiations will be constituted and I have closed 50% of my position as it stands.

Even after S/L negotiation, it is still above an 1.5 RR value.

Trade fermée: ordre d’arrêt atteint:

Unfortunately, supply zone was not enough to ward off enough buying pressure from the bulls. Waiting for news event and data dump before resuming any entries.