Categories: Technical Analysis

Selling the Kiwi prefered

I’ve been following this pair since last week. After the first levels we were watching and failed now the pair is forming another sell opportunity. Technically the pair should go lower from the current levels or a bit higher.

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Technical Overview:
H4: channel, 3 waves on the H4 chart (3rd one is being developed at the moment), resistance, fibonacci levels

H1: bearish divergence, band-to-band move

Entry:
H1: look for the bearish divergence to complete (MACD bearish slope and bearish candle pattern) around the sell zone marked on the screenshot.
Target 1: 20 MA on the H4 chart
Target 2: 0.7440
Stop Loss: above last high created

Video Explanation:

Yours,
Vladimir

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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.