Vladimir Ribakov breaks down a gold day-trade setup using multi-timeframe bearish divergences and a 3-wave structure. He's watching for a false breakout at the 50% retracement level to trigger lower highs and lows, with U.S. non-farm payrolls as a potential catalyst.
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Hey guys, how are you? Vladimir Ribakov here from Traders Academy Club. This video is a day trading opportunity. Today we are on 6th of February 2020. Today on the menu is gold, and before I dig deeper and start to explain If you are watching this channel for the first time, first of all, welcome to our trading community. I would like to invite you to subscribe to the channel so you can enjoy all the work I will upload for you. As well, you're invited to join my live trading rooms and to follow all the trading setups we discuss day after day. You can also follow our work in the free Telegram channel to understand how everything works and our trading style. Both links could be found below this video in the description and in the pinned comment. Yesterday I was talking about oil and the idea was to enjoy the rally. One of the setups we wanted to see was the ABCD pattern or any sort of a range. As you can see, nothing or none of them happened. So basically what was driving with the oil yesterday was a simple single bullish hidden divergence that delivered another massive rally. So if you enjoyed from that, fantastic. If not, what's next with oil? Uh, if we manage to maintain this structure and recreate a triple double— 3 waves to the upside, 2 waves correction— and break above the trend line, That could be a nice opportunity to look for continuation. And for today, we have the gold in the list. What is up with the gold right now? On the right top corner of the of this video, you would find also the link to the article we have about about that, so you can read a bit more. But generally speaking, according basically multi-timeframe divergence. Very simple. Weekly bearish divergence, daily bearish divergence on the slowdown, and the 4-hour chart bearish hidden divergence that is developing. Uh, and it is, uh, pretty much supported by this, by Three lower highs, lower lows. Three waves to the downside. Two waves correction is currently building up, and that makes me think that the gold is approaching to massive area that could lead us for some nice sells. So if we take the first movement, the fifty percent is right here. Very strong zone. And if we measure the corrective cycle. We can see a classical movement for us, a classical zone for us, right? Magnet zone where the sales could take place. The best scenario which I love to see in such cases is some sort of a fake breakout with a slowdown, and then on the lower time frame to start and spot bearish trend definition by making lower highs, lower lows. And then would be great to see if it manages to catch up with the bearish expected momentum. So, uh, what is important to pay attention to? The non-farm payrolls to be released tomorrow morning. Of course, it could have, it could have its, uh, its impact on such setup. So stay tuned and pay attention to that, of course. And that's pretty much it for today. My view is bearish on the gold, and I'm looking for this setups— for the bearish setups to form around this critical zone. Again, personally, I would love to see the false breakout first of all, and then the lower highs, lower lows created on the lower time frame. To gain the bearish momentum. Let me know how do you see the gold. Are you bullish? Are you bearish? And if you like this idea, please hit the like button below the video. Your support is very much appreciated. Meanwhile, thank you very much for your time watching this video. I hope you find it useful, helpful. And educational, interesting to follow. Let me know how do you see that in the comment section below the video, and enjoy the weekend to come. I'll see you next week when the market delivers us more interesting ideas. Bye for now. See you soon.
