EUR/USD
The price moves within a day downward trend, but temporarily it has been consolidated in a flat corridor. One should not be confused by this fact for a few reasons. First of all, we did not observe correction; the bulls could not turn the tide in their favor, even temporarily. Secondly, a bearish corridor H4 has been formed, on the right border of which we see the "absorption" candlestick pattern (marked in yellow on the chart). Finally, the price crossed the signal line PivotPoints downwards, then a new bearish value of the ParabolicSAR trend indicator was received. There is no contradiction on the part of RSI-Bars: the last bar approached the downward trendline, and that indicates a probable correction completion.
Pending sell order is preliminary placed below the key fractal minimum at 101.957. This mark is confirmed by the ParabolicSAR and the PivotPoints support. The first profit target is marked at 1.34610. The position can be partially closed, when achieving the target e.g., half of the volume can be left. Stop Loss can be chosen at the last fractal high at 1.35793, which coincides with the historic value of the ParabolicSAR indicator and the first PivotPoints support. Opening a position, it is recommended to move the Stop Լoss after the parabolic values every 4 hours after the order execution. Thus, we can optimize the return/risk ratio in our favor in the process of changing market conditions. If you decide to take a break from the market, the automatic Trailing Stop can be placed, taking the distance between the two previous fractal peaks into account. This distance is indicated by the double arrow on the chart above.