Categories: Technical Analysis

False break in AUDUSD offers sell opportunity

Pair is completing a false break of the up trend line from the highs on the H1 chart and has also completed a double wave up move. We can expect short term correction also in double wave and then probably continue higher. We can sell from current level versus the last high and the trend line.

Technical Overview:
H1 – false break of the up trend line, double wave up completed

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Entry:
H1 – Market sell versus the last high
Target 1: 0.7740
Target 2: H4 20 MA
Stop Loss: above last high

Video Explanation

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.