Short EURUSD : Double Top n RSI divergence Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Jul 29, 2016 11:45 AM

EURUSD gave us 2 back to back chances today, the first being symmetrical triangle and now Double top. Probably a lucky day for us with EURUSD combo. This double top also has bearish divergence, current candle being Doji wait for bearish confirmation to enter short.

Hit Like button to keep me motivated to post more ideas...Thanks for your support !
Happy Trading !!

Comment

⋅ Jul 29, 2016 12:41 PM

Double top invalidated, so trade cancelled

Comments

LevRidge

⋅ Jul 29, 2016 12:19 PM

lower lows on price and rsi, that is not divergence.

InsiderB

⋅ Jul 29, 2016 12:23 PM

yep, you are going by textbook reference I do agree. In my school of thought Double top with rsi lower high is divergence.

LevRidge

⋅ Jul 29, 2016 12:32 PM

yea... text book is usually better

InsiderB

⋅ Jul 29, 2016 12:35 PM

Again, I agree but textbook theory is different from practical application :)

LevRidge

⋅ Jul 29, 2016 12:38 PM

This wasn't a bad idea.. made total sense in my book as well, just the rsi thing was off... with double tops you REALLY want textbook divergence.

InsiderB

⋅ Jul 29, 2016 12:41 PM

ok fine dude ! :)