EURGBP --- Has it topped for now?

FX:EURGBP   Euro Fx/British Pound
I like the larger shape here, the way the price action spilled out of the narrow channel and came back to rest up against it.
- Wave 4 left the narrow channel and
- wave 5 (if complete) only made a slight new high above wave 3
- Plus wave 5 appears to be ending in a Diagonal.
These are characteristics of very common Elliott wave structure.

This also represents a "Double Top" reversal pattern.
Trade closed manually: As the current move down looks a bit too much like an ABC I took my profit. In retrospect I should have only closed 2/3. But I am over 1/1 ratio for money management so its' a good trade. I will re-enter if the downtrend resumes.
Comment: A drop below .7830 may prove interesting
Comment: Hmmm. Made a slight new top and then reversed. Tricky pattern. There may be a few pips to pick up.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out