Fxprotrader
Short

EURGBP: Bearish Divergence Shows Price Reversal

FX:EURGBP   Euro Fx/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 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
Fxprotrader jorv2074
MACD 4C, standard settings
Reply
Fxprotrader Fxprotrader
12,26
Reply
Thx u. Good guide
Reply
Fxprotrader 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
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
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
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out