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EURGBP short for correcion

Short
FX:EURGBP   Euro / British Pound
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5
hiya,

I noticed this rising wedge , which could lead to a correction soon.

The doji candle yesterday was already not convincing itself and it didn't even make a new high in this recent bull run.
Today (at least for now) the market created a big red candle, engulfing the bullish one 2 days ago. not great for bulls either. It just doesn't look right. The lower rising line of this wedge could even be an upward sloping neckline of a potential H&S .

This whole pattern is accompanied by a massive negative divergence.

So the question for me is really: now short or waiting for a RSI trendline break ? I just went for a first trade here and looking for a 38%-50% retracement from the very recent up move.

Happy trading, happy hunting

KP

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Nice Chart Bro, looking at the 4H chart, I have entered short since past 2 days.. looking at the long fall, probably a pullback/retracement could take place prior to the next strong move down..

Cheers!!!
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