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)

GBPCAD sell trading strategy explained - 25 April 2024 #trading #forex #forexsignals #shorts

26 Apr 2024 · 1 min

Watch on YouTube

0:54

Vladimir Ribakov shows a GBP/CAD short trade that caught a 300-point drop. Price formed lower highs and lower lows in a downtrend, then a double-top at resistance with MACD bearish divergence confirmed the sell signal before breaking the corrective trendline.

Chapters

Hello traders, Vladimir here from Home Trader Club, and in this video I want to follow up and explain the sell trade we took on GBPCAD. 3 lower highs, lower lows on the chart stands for classical bearish trending conditions. Sell the rallies is the plan. Stochastic Oscillator has reached its extreme and we got a bearish hidden divergence condition. While the market made lower highs, MACD made higher highs. Bearish hidden divergence. These 2 key resistance zones have to hold in order for the sell to stay valid. And after the pullback, look how classical this setup created: a double top resistance zone with a bearish divergence on the MACD and a break below the most recent corrective trendline. The GBP/CAD delivered a very nice move to the downside of over 300 points.