Live Divergence Trade

Well, I haven't been writing much in this blog recently, so as penance I thought I would log a trade that is a live setup at the moment. EURUSD has formed a divergence pattern. Price has made new highs, but they are not matched by new highs on the RSI indicator.



As I am writing this my entry point (short) has just been triggered. The setup is based on fibonacci retracement levels. My entry was at the 23.6% level (1.3643) with a target exit price at the 123.6% extension level (1.3532).



Tomorrow I'll give an update on how this trade performed.