EURGBP Short Position (05-11-21 at 9 PM)

Price breached a clear diagonal support area on the 1h EURGBP chart.

Here are the entry qualifications that convinced me to take a short position:
1.) Price seemed to have retraced to and confirmed the former support area as a resistance area
2.) A bearish engulfing candle had formed within the new resistance area
3.) Price breached the 8 EMA with a strong bearish move
4.) Price was still making LHs and LLs

My TP area will be a little before the next psychological level of 0.85500, which I think it will hit during wither the London or New York session.

Comment:

I forgot to mention a 5th qualification that played a role in my analysis:
5.) Price is moving below both the 200 and 50 EMAs

And I, of course, meant to say 'either' instead of 'wither'. Haha.

Trade active:

Unfortunately, the trade reversed right before hitting my TP while I was asleep, but I'm holding on to the trade because I think it will still hit TP when it goes back down. As a matter of fact, I moved my TP down a little bit to 0.85520 (a little closer to the psych. level of 0.85500), for a RRR of 1:3.