Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

EURAUD sell explained - 29 April 2024 - By Vladimir Ribakov #forex #trading #forextrading #shorts

29 Apr 2024 · 1 min

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Vladimir Ribakov breaks down why EUR/AUD is headed lower. The weekly and daily charts both show bearish divergence and broken trendlines. On the 4-hour chart, a double trendline breakout confirms the sell setup, with the pair already down 200 points.

Chapters

EUR/AUD sell trade fully explained. Weekly chart, bearish divergence, higher highs on the chart, lower highs on the MACD, recent trend line is broken down, bearish sign. Daily chart, same story, bearish divergence, higher highs on the chart, lower highs on the MACD, and the most recent trend line is broken, another bearish sign. 4-hour chart, one of the classical technical setups I love, double trend line breakout. First trendline is broken down, retest with 2 waves pullback, and the final trendline is broken down. Amazing bearish sign. As long as this key resistance holds, bearish view is on, and for me, sell trade is valid. And as you can see, the market delivers. The EUR/AUD drops down around 200 points. Join Home Trader Club for complete trading courses, real-time trading education, and real-time trading opportunities.