Vladimir Ribakov analyzes AUD/CAD for a short trade setup. He spots lower highs and lows, multiple MACD divergences across daily and 4-hour charts, and plans to sell rallies into prior support where another divergence could form.
Hello traders, how are you? Vladimir Ribakov here from Traders Academy Club. Welcome to the Forex Day trading opportunity, 25 September 2019. Yesterday we have been covering an opportunity which was the dollar franc. If you missed the video, right now on the top corner you would be able to see that. The idea was to look for sell opportunities until the 1-hour chart would provide us a divergence. Now, uh, we got a little retrace back and a little move down which was blocked with this kind of, uh, double bottom which is holding this supportive area but mainly is holding a bullish divergence. This is the place I personally expected it to move a bit further down. But as I always say, never ever argue with the market. Trade facts, not wishes. And what we got here was a little move up, little move down, blockage with a bullish divergence, and basically a say from the market, game over. Um, now this trendline is basically— break above this trendline would invalidate the sell anyway. As for now, there is no interest in being a sell. Where we are blocked with a bullish divergence. So what is the opportunity for today? And this is coming from the Australian versus the Canadian observation on the long time frame with the hold of lower highs, lower low structure, and the fact that we are still holding the beautiful ride of the 20 moving average. And the MACD is negative, likely to create here some sort of divergence. The fact that the daily is a bearish divergence, bearish hidden divergence, and the retrace upside was only in 2 waves. The fact that the MACD is crossing down to the negative area once again on a daily time frame, and mainly the fact that the 4-hour chart is a structure of a trending, a bearish trending condition with a bearish hidden divergence as well pushing to the downside. The idea here becomes that this is a developing first leg, and then we might see the pair heading towards the previous supportive area, which is also around the previous lows, or at least to its trendline zone until it will manage to recreate its divergence. And according to that, the 1-hour chart should be developing, uh, the current leg as well. So anything like that is definitely, um, technically correct for this kind of price movement. We are holding here the structure of lower highs lower lows. As you can see, there is room downward, so sell the rally should be the correct plan. Quick observation on the SRS, which provided us also a great structural, uh, here, uh, confirmation— sorry, confirmation for the trend continuation. Gave us a beautiful, uh, a layered With a classical combination of the scanner. So technically speaking, as long as the structure of lower highs, lower lows hold, the pressure is bearish. And from my point of view, the pair is heading lower. So Australian CAD is the pair for today. Let me know what you think about it. How do you find this opportunity? Um, are you bullish? Are you bearish? And generally, leave your comment in the comment section below. Let me know what you think about it. If you are new to the channel and to the day trading ideas, first of all, welcome, uh, to our family, our community. I would like to invite you to subscribe. Also follow us in the live trading rooms with the links below in the description, below the video in the description. And enjoy all the trading opportunities as we discuss about them day after day. Also, you can follow us in a free Telegram channel. The link to join is as well on the bottom below the video. That's all for today. Thank you very much for watching. If you enjoyed the video, hit the like button, leave your feedback in the comment section. Let me know what you think about it, and I'll see you tomorrow. Thank you for your time. Yours, Vladimir Ribakov.
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