GBP/USD Double-Top Forming

Hi Traders,

We are on GBP/USD 1-Hour

We can see we have a double-top forming.

I have highlighted the neck zone in yellow.

I would like to see the price close below the neck zone accompanied by strong volume.

The break of this neck zone would also confirm a break of the trend line.

I will then set a pending order to open up a short position.

We have partial divergence on the MACD Histogram but not on the MA Lines.

Entry Rules –
1) Price needs to close below the neck zone with conviction
2 )Price needs to retrace to the neck zone.
3) We need lower volume upon entry.

If those three conditions are met, then I will open a short position targeting 1.334 and then 1.3317.

Good luck to everyone trading today.

Trade safe.

Vortex