I am short the EURUSD with a wide stop about the last supply/resistance whatever you want to call it. It didn't hold down out of the little tight range it is in like I had hoped. so the momentum I thought was going to be there, wasn't there. I entered this position missing a few criteria. So it was not a very successful trade.
I am calling this a hedge but it is a test trade because I think the macro trend is going to turn up for maybe a little bit in this pair. but I am not nervous to take it because of my small risk and opposite position short the dollar AUD. I am taking this trade because it took out supply for the first time since reaching these macro demand levels.
I am going short against the major trend with half position because I like how price hit a wall against old supply level and began fading back to some used up demand zones. zones that might be easy for sellers to remove if the buyers are all used up. but I am cautious because of the momentum and will jump out if it starts to act like a short term pull back