Vladimir Ribakov updates his silver analysis after the market moved through his original buy setup. He now expects downside toward a demand zone on the daily chart, citing bearish divergence and a broken resistance level that shifted his bias to sell.
Hello traders, how are you? Vladimir here from Home Trader Club, and this video, my analysis and further, uh, trading plan on silver. And this would be a follow-up to a video I published several days ago on silver for both scenarios, on a short-term buy and a sell on the reversal which currently happens. And this is why I record this video to make a follow-up and share with you my further trading plan on this one. If you missed the original video, right now on the right top corner of this video you will find a direct link. You can watch it, or you can find it of course, um, On my channel, both plans. Okay, so let's begin. So our initial plan was buy from this zone, okay, uh, with the 4-hour chart Fibonacci. Once again, make sure you watch the original video. I want you to see the full analysis behind it, why I was after buys from here and why I was for sales after Um, after this rally from this zone. Okay, so following the, the plan, we got inside the zone which is right on 161.8 Fibonacci. The reason I was looking to buy, as it was rejected on a beautiful supportive zone from higher time frame and 161.8 Fibonacci, while the 1-hour chart completed here, as you can see Little waves with significant bullish divergence. While the market was making the lower lows, this indicator started to build a beautiful higher lows, creating a positive divergence. Okay, so this was our original plan, and according to this plan, we wanted to see the rally towards one of the inner zones. As we can see, we have two massive inner zones, right? What do I mean by inner zone? Massive move down, some sort of consolidation, another massive move down, range. These zones, it's where the sellers gain their momentum and very likely will be protecting these areas if the market managed to retest it. And that's what we see here exactly. The market managed to complete the rally in a beautiful Corrective movement, and look how it ends. My favorite style. Okay, it reaches the key level. Pay attention to this inner zone. It's also retest of this broken support become a resistance. Absolutely fantastic area for a sell. And take a look how it ends while the market making higher highs, higher lows. Let me just hide it for a second here. It will be easier to. See, while the market is making the higher highs, higher lows, the indicators showing lower highs indicating that there is a bearish divergence conditions or negative conditions developing, hinting that from this area very likely we are after sales. And as soon as the market managed to go and break this rising supportive line and starts to make the sequence of lower lows, It's our sign of voilà, the sellers are very likely back in the game. So according to the longer-term plan, okay, let's go to the daily chart and I want to show you what am I looking to connect to. So according to the daily chart, we have a rising supportive line here which I believe and anticipate it should be retested. And if we plot Fibonacci expansion on these 2 legs— let me just do it quickly. Okay, so you will see that here, Fibonacci expansion on these levels. Okay, take a look where it brings us to. Okay, right on the 100 expansion. You see that? So there is a very, very good chance we will see that Final push down toward this zone. Besides the 100 expansion, which might be missing by slight, uh, by several points, it's fine. Take a look what happens here. Same inner levels I was talking about before, just reversed. Bomb upside, inner zone. And this inner zone comes together with this— you see this spike— a zone of demand. All that happens right next to the rising trend line as a supportive zone and the 100 Fibonacci expansion. I believe that if the market, uh, indeed will remain under the control of the sellers, as it seems right now, this is where we should see the silver eventually before potential flip to happen afterwards. Okay, so this is my trading plan on the silver. Let me know what do you think about this one. How low do you believe silver can go? All the way down. And also, I would like to take the opportunity and to thank Mugen Markets for supporting myself, my team, my community, and my work, and of course this channel. And you can learn much more about Mugen Markets broker and what do they offer, how great, how many great features they have for you, the traders, with the link below this video in the description. So thank you very much for your time watching this video. As always, I hope you find value in it, and if you do, please show your support back, hit the like button below this video. If you are new to this channel, welcome to our fantastic community. Please consider to subscribe to this channel with the subscribe button below the video so you stay notified when I upload new content and new trading opportunities for you. And also, I would like to invite you to our Trading Family, the Home Trader Club, where you will get your access, as you can see on this very image here, full trading courses, real-time education, real-time trading opportunities, access to our community, and so, so, so much more. So join us with the link below this video in the description. Best to you and yours. Thanks again for watching. I'll see you soon with more. Good trading and bye for now.
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