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)

GBPUSD sell trade fully explained - 18 April 2024 #forex #trading #forexsignals #shorts

19 Apr 2024 · 1 min

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Vladimir Ribakov breaks down a GBP/USD short trade on the 4-hour and 1-hour charts. He spots three lower highs and lows, stochastic overbought, and a bearish MACD divergence at the trend line break. The trade hits over 200 pips profit as the pair drops below 1.2400.

Chapters

Here is a sell trade on the pound-dollar fully explained. 4-hour chart delivered the classical 3 lower highs, lower lows bearish trending structure followed by a pullback on 2 waves. Stochastic oscillator has reached its extreme level in overbought conditions. 2 key resistance zones spotted on the 4-hour chart. As long as these 2 resistance zones hold, sell is the plan. On the 1-hour chart, we got that trigger. After higher highs on the chart, we see a bearish divergence on the MACD and the rising supportive line, the uptrend line, is broken down, signaling and alerting a massive sell opportunity. The GBP/USD does not disappoint and drops down below 1.24 to deliver over 200 pips.