EURGBP --- Has it topped for now?

FX:EURGBP   Euro / 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.
Mar 28
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.
Mar 30
Comment: A drop below .7830 may prove interesting
Mar 31
Comment: Hmmm. Made a slight new top and then reversed. Tricky pattern. There may be a few pips to pick up.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out