Fxprotrader
Short

EURGBP: Bearish Divergence Shows Price Reversal

FX:EURGBP   Euro / British Pound
545 11 24
Price has reached the upper parallel of an upsloping andrews pitchfork with a bearish divergence being present in MACD . In the lower timeframes we may see that after reaching the parallel, price dropped instantly forming an impulsive wave to te down and now it's in a corrective structure. Selling the breakout of the correction is what i plan to do catching a potential sell off.

Pending setup:
snapshot
Comment: Price finally broke below the correction and i am already short. I post this a little late but for those who missed the breakout you may wait for another correction and sell the market
snapshot

nice, targets ? i am considering the 38% fib of the last up move
Reply
TAJIR_B TAJIR_B
snapshot
Reply
Thanks .
Reply
Fxprotrader PRO ForexLoveme
You are welcome :)
Reply
what MACD settings are you using - I don't see any div if you use standard (12,26,9) settings
Reply
MACD 4C, standard settings
Reply
Fxprotrader PRO Fxprotrader
12,26
Reply
Thx u. Good guide
Reply
Fxprotrader PRO tudtoon1moo
You are welcome :)
Reply
Hi, thanks for the EG short set up. Looks promising.

What is your initial profit target?

Thanks
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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