Vladimir Ribakov analyzes silver's technical setup on June 3, 2020, identifying a falling resistance line, bearish divergence on the daily and 4-hour charts, and lower highs and lows suggesting a downtrend. He flags the 61.8% Fibonacci extension as the invalidation level and expects shorts to work as long as price stays below it.
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Hey guys, how are you? Vladimir Ribakov here from Traders Academy Club and welcome to the day trading video and market analysis. Today we are on 3rd of June 2020. I hope you are well and you are safe in this new reality to all of us. And today on the list I have the silver that I want to share with you. But before that, if you are new to the channel, first of all, welcome to our community. I would like to invite you to subscribe to the channel. Just follow the subscribe button below this video. Remember to enable the notification so you get notification when a new content is available for you. And also, I would like to invite you to join our trading club in Traders Academy Club and to join our free Telegram channel to learn more about our style and our work. Both links could be found below this video in the description or in the pinned comment inside the comment section. So as I said, today on the list is the silver, and here is what we have here. Falling resistance by connecting the highs on the daily time frame, bearish divergence on the last 2 highs, and also the bigger scale, uh, could be found on the daily and on a 4-hour as well. On 4-hour, it's even more Powerful with moving average divergence on the MACD. Besides that, what we can see here on the silver is a very, very strong pivot resistance zone, both from the daily and from the weekly. We are in a very serious area here of resistances. So the way I see the silver going. Is, as we can see right now, the market starts to create the lower highs, lower lows, which means a potential beginning of a bearish trend. So from my point of view, this is a beginning of an interesting opportunity and of a possible continuation south. Uh, the very important thing here is invalidation in a trending structure, especially the first one developing. You do not want to see the price making one straight move above 61.8 Fibonacci of this movement. The reason is, in trending structure, you are good to see corrections. Corrections could be ABCD or any sort of a range before continuation, but you do not want to see one straight move going through all the Fibonacci. If that happens, that invalidates the analysis, and we'll have to wait more and see, uh, more evidences. Uh, another very interesting fact is the statistical tops, uh, from the Forex Crystal Ball. We can see all this surrounding— you can see the beginning of the month Very, very, very strong period of a potential top to be created, and this is exactly where we are right now at the beginning of the month. And that's another statistical fact puts a bearish pressure on the silver. So my personal view on silver is. Bearish, and I would expect to see bearish continuation after pullbacks as long as we are below the invalidation level, which I explained. If you find this idea interesting, useful, educational, helpful, please show your support back. Hit the like button, drop some feedback below the video in the comment section. Feel free to share this video with anyone who you want. This is completely free for the community, and I hope, uh, such ideas and such videos are, uh, helpful, uh, indeed. And yesterday we were talking about the, um, euro yen. Right now on the right top corner of the video you can find a direct link to watch this video if you missed it yesterday. And the idea was to see pullbacks. It was smaller than I personally would wish to see, but we saw a temporary slowdown, we saw a bullish hidden divergence, and we got the continuation As we wanted to see. So I hope you managed to enjoy some of the euros yen as well. And that's all. So for today, as I said, it's silver for me. Let me know what do you think about the silver? How do you see that? Please comment in the below the video and share your view. And for more trading ideas and live market analysis, I invite you to join us in Traders Academy Club and to enjoy from a full list that we prepare to our members on daily basis. So that's pretty much it for today. Thank you very much for your time, for watching this video. I wish you good trading. Wonderful day and stay safe, be well. I'll see you tomorrow with more interesting ideas.
