Vladimir Ribakov analyzes EUR/GBP for a bearish day trade. He identifies a sell setup below the 61.8% Fibonacci retracement, with invalidation at that same level, using lower highs and lows on the 1-hour and 15-minute charts as confirmation.
Hey guys, how are you? Vladimir Ribakov here from Traders Academy Club. Today we are with the day trading idea video, 27th of November 2019. Yesterday we discussed about the euro versus the Australian. We will see in a second how it developed. If you missed the video, right now on the right top corner corner, you would find a direct link to this video, so you will be able to watch it carefully. Before I start, quick reminder, this special offer for Black Friday and Cyber Monday is still available for you inside this link, which you can find also below the video in the description and in the pinned comment. So today on the list is the EUR/GBP before, as I promised, EUR/AUD, uh, from yesterday's idea. We were Here, the idea was going lower after rallies until we will get a divergence. So we got little rallies, we got the move down. Was for enter the opportunity, which blocked with this double bottom. Let me just draw straight lines. Blocked with this double bottom and bullish divergence. And as explained yesterday, that would be the sign for us to stop. One hour chart divergence, four hour chart. Divergence. Basically, this is the place where game over. We are stepping back and waiting to see until the next clear signs happen from this pair. And today on the list is the euro versus the pound short-term opportunity, day trading opportunity. But before that, for all those of you who are new to the channel, first of all, welcome to the community and to our family. I would like to invite you to subscribe to the channel. Just follow the subscribe button below the video and remember to enable, enable the ring notification. I would like also to invite you to join our live trading rooms where you would be exposed to all the trading ideas day after day, including the full trading reports. And you are invited to join our free Telegram channel. Both links are below this video. In the description. So the euro pound, what we have there and how does it develop according to the developing triple cycle that we have from the daily time frame? We have here a very, very interesting magnet zone. This magnet zone is slightly lower, not significantly lower. We also have a clearance zone where the most recent high sorry low from the weekly time frame is right here. This is. Also psychological zone to below the 0.85 area. I believe this is going to be the zone where we will see the fight and this divergence should be created. Until then, the lower time frames should fit in. Right now on the lower time frame, this is what we have. We have here the lower— sorry, the lower highs, lower lows pattern in play with 2 waves breakout, trendline breakout, retest test. And basically what we got here was what we call the double trendline principle. We got the first one leading to the downside, and the second one was the inner that provided us the breakout, the retest, and the continuation. What's next with this pair? Currently no bullish divergence. Moreover, we maintain the lower highs, lower low structure, and also on the bigger scale, as you can see here. The MACD crossed the moving average to the downside, and yet, as you can see, the lows of the moving average continue to the downside. The broken rising trend line, dynamic resistance now from the RSI, with the retest on the 50 level, and now also maintains the lower highs, lower lows. And to add to that, even the lower time frame, which is the 1-hour chart, we figured out that currently in this pattern no bullish divergence could be found nowhere. That all that brings us to the conclusion that very likely this is to continue lower. Invalidation for that plan would be, well, the break above this trend line, because if we suddenly break up, that might be a trend change. So how to approach that? The 15 minutes is the one that currently develops here the structure of the lower highs, lower lows. So we would expect some correction until some good bearish hidden divergence would take place, or alternatively we will face some 2 waves correction and then breakout to the downside and to try and enjoy the next possible ride Of course, as long as this trend line holds. If we suddenly go all the way up crossing above the 61.8 Fibonacci retrace of this move down, this is the most recent leg and the trending structure on the 15 minutes. If we break above the 61.8 in one straight leg, that will invalidate the sell idea. And for those of you who trade with systems, for example, the SRS Pro, then you can simply wait for your signals to come with trend change like here and with the ABCD pattern. Let me just draw it with different color for you. With the ABCD pattern breakouts and go and look for the sells. Of course, that could be also applied on the lower timeframe as long as we will have our multi-timeframe monitors lined up with the SRS candles. So if we get anything like that, of course, assuming that the SRS Pro monitors would be set, this would be a great opportunity to go into ride the sells. Once again, the invalidation is a straight move above 61.8, and that's pretty much it. So my view is bearish on the euro pound. Let me know what do you think about this one. Are you bearish or are you already bullish? Keep in mind, this is a short-term opportunity. Because once we enter this zone I marked before— let me just go to the normal color again— once we go to this normal zone that I explained about before and complete reversals on the lower time frame, we start to create higher highs, higher lows, that would be a game over for the bearish view and we would very likely start a deep correction. But as long as this reversal did not happen There is a good chance we will see that trying to finalize this movement with divergence, and that's the idea to trade on this intraday short-term opportunity. Let me know how do you see this opportunity and how would you trade it, if at all. And thank you very much for your time watching this video. I'm Vladimir Bekov from Traders Academy Club, and I'll see you on the weekend with the weekly forecast and analysis. Keep in mind tomorrow is Thursday and it's Thanksgiving in the US, so I would like to take the chance and to wish Happy Thanksgiving to all those of you who celebrate. Enjoy the Black Friday and the Cyber Monday coming right after that. My special offer to all the community for this event, it could be found right here in this link or below this video in the description or in the pinned comment. This is all for today. Thank you very much once again for your time. I'm Vladimir Ribakov of the Advanced Academic Lab, and I'll see you in another videos.
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