Vladimir Ribakov breaks down a bearish setup on AUD/CHF using MACD divergence and convergence on the 4-hour chart, plus a downtrend on the 1-hour chart. His plan: sell rallies while two key support levels hold.
Here is a sell trading opportunity on the AUDCHF. On the 4-hour chart, the price flips, making higher highs on the chart versus lower highs on the moving average of the MACD, completing bearish divergence. And then the price flips to make lower lows on the chart and lower lows on the MACD to complete a bearish convergence. The ADX indicator also crosses to the negative zone, supporting the bearish view. On the 1-hour chart, 3 lower highs, lower lows complete a bearish trending pattern. Sell the rallies is the trading plan as long as these 2 key levels hold. Join Home Trader Club for complete trading courses, real-time trading education, and real-time trading opportunities.
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