EURGBP short for correcion

FX:EURGBP   Euro / British Pound
576 3 5

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

took 50% off @ 0.8510

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..

I just deleted stupid spam ad here, that's unbelievable !
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out