Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

Gold Analysis & Trading Plan - 23 September 2024 - By Vladimir Ribakov

23 Sept 2024 · 3 min

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3:14

In this YouTube video, Vladimir Ribakov of the Home Trader Club provides a technical analysis of gold and outlines a short‑term trading plan. He begins with a sponsor acknowledgment for 8K Broker and then examines gold across multiple timeframes. On the monthly chart, he notes that gold is flirting with overbought conditions, recalling a past similar situation that led to a strong market reaction. The weekly chart shows a slowdown after three waves, with the moving average and RSI also approaching overbought levels. The daily chart reinforces the overbought signal, suggesting gold is near its peak. Ribakov discusses a possible final push to complete a divergence before a trend‑line break, after which a correction could begin. He emphasizes that as long as key support zones hold, gold may bounce and form another peak, but once lower lows appear, it could open the door for sellers. The video concludes with an invitation to join the Home Trader Club for real‑time trading opportunities, mentorship, and education.

Chapters

Hello traders, how are you? Vladimir here from Home Trader Club. In this video, let's analyze the gold. Before we begin, big thanks to 8K Broker for supporting our community. To enjoy all the amazing offers we have with 8K Broker, including the access to Home Trader Club, private mentoring sessions, the trading strategies, the live trading rooms, and more, please refer to the link below this video in the description. Lots of things were said about the gold, but here are some very interesting facts. The monthly chart— on the monthly chart, we can see the gold is right now flirting with clearly overbought conditions. Last time it happened was Here, and we all remember a significant market reaction. So I believe later or sooner, especially with the improving inflation conditions, I believe the gold will follow the same path. On the weekly chart, also at the end of these 3 waves, we start to see some slowdown conditions building up potentially also on the moving average, while the RSI is again on close to overbought conditions. On a daily chart, the RSI is also not far from overbought conditions. So the way I see that, the gold is around its peak. Very possible scenario, we will see some potential attempt to make maybe extra push or attempt for one more final run to complete this divergence before the trend line would be broken, before the divergence would complete, and the correction will start and happen. So on the short term, I do think that we are possibly to see some corrections. But as long as the key supportive areas hold, very possible scenario the gold will bounce from them and complete another peak, maybe 2, until it again, it will complete the divergence as we saw 1-hour chart, 4-hour chart. And then look for the reversal signs. Once it flips and starts to make the lower lows, I believe that would be the door for the sellers. That's it for this video. I want to invite you to our trading family, the Home Trader Club, to enjoy all of our real-time trading opportunities and real-time trading education. Join us with the link below this video in the description. Thanks for watching. I'll see you soon with more. Goodbye. Good trading. Bye for now.