On the 4 hours time frame, the price chart of EURGBP has been spotted forming a bearish pattern called the bearish divergence.
We all know that divergence, divergence is a reliable trading signal, but it's not timely, meaning that price usually follows the direction of the indicator. so, when you spot divergence, recognize that the price trend may change. This doesn't mean an immediate sale, but you should be ready to flee or short that market.
This type of divergence is called A BEARISH REGULAR DIVERGENCE. A Bearish regular divergence occurs when price makes a higher high but the indicator forms lower highs. The two data streams diverge in direction. Price will eventually, usually, follow the indicator lower.
Note: All traders needs to wait for price to close below the near support level at 0.91793. Targets to the down side are from 0.91579 down to 0.91267.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
We all know that divergence, divergence is a reliable trading signal, but it's not timely, meaning that price usually follows the direction of the indicator. so, when you spot divergence, recognize that the price trend may change. This doesn't mean an immediate sale, but you should be ready to flee or short that market.
This type of divergence is called A BEARISH REGULAR DIVERGENCE. A Bearish regular divergence occurs when price makes a higher high but the indicator forms lower highs. The two data streams diverge in direction. Price will eventually, usually, follow the indicator lower.
Note: All traders needs to wait for price to close below the near support level at 0.91793. Targets to the down side are from 0.91579 down to 0.91267.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.