EGLD
Short

EGLDUSD | DOUBLE TOP | BEARISH DIVERGENCE ON RSI

Zaktualizowano
EGLDUSD just formed a bearish divergence on the 4H TF on the RSI and a double top chart pattern. Technically this is a bearish sign and a possible trend reversal signal BUT we are still in a bullish trend on EGLDUSD.

Wait for neckline break and a close of 4h candle below it to enter a short trade (potential fakeout, bigger R:R ratio)

or...

wait for the re-test of the neckline once it is broken and then look for a bearish candle formation or trend line break on the 1H TF. (safer option, sometimes smaller R:R)

TP1: 180
TP2: 160
TP3: ??

good luck!
Anulowano zlecenie
did not break below the neckline instead tested the old ATH.
Chart PatternsDouble Top or Bottom

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