Roker1
Short

Double top on EURGBP

FX:EURGBP   Euro Fx/British Pound
Hey guys,
on EURGBP             we are testing a daily structure level that could turn out to be the right shoulder of a bigger head&shoulder (on the daily). So we know we want to look for shorting opportunities. In the 4HR chart we can see price's created a double top with a nice RSI divergence.
The confirmation sell signal comes from the engulfing candle just formed.
In order to have a 1:1 RR at the retest of the lows i'm waiting for a small pullback into 0,8730 level.
Let's see if price triggers it.

If you have any question or remark, please comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: stop reached: Price gapped against our position.
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
@Roker1 look at this excellent H&S formation on the weekly. Although it is not completed (yet) and I have not identified (yet) any clear indication of the price movement at this timeframe (Weekly). Certainly it is an idea to monitor.

snapshot


Great spotting as always.
Reply
Hey @Telson , i was watching it on the daily and there's also a nice long-wick to the top candle as you can see.
snapshot
+1 Reply
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