Vladimir Ribakov breaks down a short setup on AUD/CAD using three lower highs and lows, bearish MACD, and a broken uptrend line. The plan is to sell rallies into resistance, and the trade hits profit.
Hello traders, Vladimir here from Home Trader Club and here is the Aussie CAD sell fully explained. 1-hour chart, we spotted classical bearish price action: 3 lower highs, lower lows, bearish trending structure, lower lows on the chart and lower lows on the MACD while the ADX indicator is bearish. As long as this key resistance hold, our plan is simple: sell the rallies. Here come the rally, the pullback which end with a bearish divergence, the market making higher highs, no problem, MACD indicator making lower Classical bearish divergence. The most recent uptrend line is broken, triggering sell. And our resistance continued to hold. Our sell delivers.
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