EURGBP Short Direction: - Approached the last level of a Bullish Cycle, so M (Double Top) formation pattern (or similar pattern that holds and indicates a high) expected to appear before reversing into a Bearish Cycle.
Entry: - M (Double Top) formation pattern appeared. - Second leg of M formation crossed the 13 EMA, confirming the pair was going to drop. - Divergence shown indicated a drop. - RSI value was above 68 which means the pair was overbought, so it was due to short. - TDI MBL (Market Base Line) was above the 68 and pointing down, which also showed that price was possibly going to start dropping.
Exit: - 26 pip SL @ 7 pips above high - 38 pip TP 1 @ just above 200 EMA - 71 pip TP 2 @ just above YL (Yesterday's Low)