Vladimir Ribakov reviews an oil short trade that hit its 50% Fibonacci target, then identifies a triple-cycle pattern in oil around the 61.8% level. He presents a bearish day-trade idea for the S&P 500 using SRS Pro candles to watch for a shift to red candles and a possible correction.
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Hey guys, how are you? Vladimir Ribakov here from Traders Academy Club, and this video is a day trading opportunity for 31st of October 2019. So first of all, for all those of you celebrate the Halloween, happy Halloween! Get a lot of candies. I hope you find this day wonderful and enjoy. Now let's go to our chart and let's begin. So for today, opportunity S&P is the one that was spotted. But before that, quick review of the oil. Trade that we have covered two days ago in the daily video back then. If you missed the video right now on the right top corner of the video, you would find a direct link to that. The oil sell sell idea we discussed, which reached the target. So this is basically why I just want to update it. We were aiming to the fifty percent of this Fibonacci. And our idea was very simple: sell the rallies. And I presented you back then the new release of the SRS, the SRS Pro. You can find all the details, of course, about that in the description below the video, how it could work and provide opportunities in such trend riding. So what we have been looking for As two waves retraces, we got it here and then a breakout, and then we got a new one here, which was broken right here. Both opportunities provided great rides and wonderful amount of pips in terms of risk reward, of course. And also the classical breakouts worked. In the place where we became bearish, right? So we switched back to bearish, last low is breaking. Switch back to bearish here, the low was not breaking. Switch back to bearish here, the low is breaking and continuing. So both scenarios and both possibilities provided great, and I hope you enjoyed your profits here for today. As I said before, we have our S&P on the list and Before I start, if you are new to the channel, so first of all, welcome to the channel, welcome to our community and our family. I would like to invite you to subscribe to the channel and to join my live trading rooms where you will get access to all the trading ideas day after day, backed up with a full trading report. You can also follow my free Telegram channel. The links to both are below the video in the description or in the pinned comment in the comment section. And if you find the idea useful, interesting, and educational and helpful, please leave your comment below. And if you enjoyed the video, just hit the like button. Your support is very much important and much appreciated, so thank you in advance. What do we have on the oil on the short-term view? We have a triple cycle here. Which reached a very beautiful zone of 161.8 expansion, and the second leg taking us towards the 61.8 classical box of Fibos. We are facing here a false breakout of the highs alternative lines. Let me just draw it correctly. Here we got a false break and a false break over, uh, right here of the horizontal resistance. Bearish divergence is in play. 1-hour chart, we can see the 2 false breakouts right here on the, uh, same horizontal view. Same divergence here and here and here in the bigger one, right? And now we are switching to a bearish convergence. What I like more than just the convergence here is the fact that we also start to create lower highs, lower lows. So technically that looks like a good sell opportunity, and as long as it holds the area of 61.8, I think there is a good chance to see a beautiful continuation down. The reason of 61.8 is if we suddenly, for whatever the reason is, go and cross through the last 61.8 in one straight move, that would be a warning sign that the sells are not yet ready. Uh, the targets— first of all, we have the latest 1-hour chart rally, 50% reached, but the corrective cycle was not. So 2 waves definitely could be acceptable. But the bigger picture is the 4-hour chart. Where we got our main cycle, and if that's the case, we should be heading for the longer view towards here. So that could be a very nice shorter opportunity, which could also switch to something deeper, bigger, and more interesting. Will that happen or not? Of course, only Mr. Market can tell us. Let's take a look how it looks like. With the SRS Pro, so we need a 4-hour chart to change bearish because currently it still holds. We already have this structure of increasing red candles, as you can see. That's the new— one of the new developments of the SRS Pro, the SRS candles. That's not the regular normal candle patterns, one of the greatest creations. And of course, the SRS monitors Really amazing tool. And what we have here, as you can see, increasing more red candles than the latest blue, more red candles than the latest blue, uh, changing momentum. And exactly like I expect on Monday, uh, for the oil sell idea, 2 waves and breakout, or 1 wave with bearish hidden divergence and hold of the trendline, and looking for again to change to red, right? So we want the correction. Correction would be blue, then switching again to the red, gaining the setup. Of course, we would need all the candles in the monitors to become red as well, and that could turn to be a very interesting opportunity. So my personal view on the S&P today is bearish, looking for the sells. Let me know what do you think about it. How do you think the The S&P, are we going to fly to new highs, or is that a time for a correction? Maybe in the future something even bigger. So I will be happy to hear how do you see that in the comment section below the video. That's all for today. Once again, happy Halloween! Wonderful day to all. By the way, yesterday I could not upload a video because I was not around to do that. So here I am uploading it now. Sharing a very interesting opportunity I managed to find. Hopefully you enjoy that and you find it helpful, educational, and if you do, please hit the like button, leave some feedback in the comment section. Your help is very much appreciated. Thank you for your time. I'm Vladimir Ribakov from Traders Academy Club, and I'll see you in the next video.
