Weekly Forex Analysis and Forecast - 1-5 November 2021 - By Vladimir Ribakov

Hello traders, how are you? Vladimir here from Traders Academy Club, and in this video I would like to share with you my top 2 picks for the week, uh, sort of a mini version for a weekly forecast and analysis. I'm choosing the best 2 or 3, depends on the market, depends on the opportunities. Trading ideas. I call it the top 2 picks or 3 picks, and I would like to share with you my view for the coming week on these instruments. So let's begin. Right before I jump on my charts and share with you my interesting ideas, if you are new to this channel, first of all, welcome to our fantastic community. I would like to invite you to subscribe to this channel please follow the subscribe button below this video and remember to enable the notification so you know when there is a new video available for you. And as well, I would like to invite you to join our trading family Traders Academy Club and to enjoy from all our trading ideas we share real time during the week. You can find the link to join right below this video in the description or in the pinned comment. Inside the comment section. Also, one little request: if you find this video or such videos helpful in your trading, please show your support back. Hit this like button below the video. It helps a lot to this channel, and you support my work here. It's very much appreciated, and I would like to thank you very much in advance. So what are the two opportunities I have on the list? Let's start with the first one: pound yen. Where I am doubtful that the top was reached. I think there is still room for one more final high. So I expect to see something like that building up, a drop, and then further rally to take place. Also very important to mention here that this is a non-farm payroll week. And usually, statistically— I know I don't predict what's going to happen this week, but statistically, and you can go backwards and check, during the non-farm payrolls weeks, the market tends to be more positive with the yen pairs. It doesn't mean since Monday, or it doesn't mean that it happens with every single week, but this is pretty much the statistics. But it is common for many, many, many years now. That's why I believe that once these drops complete, and I'll show you where I expect to complete, I would be looking for my opportunity. So with the idea in my mind that we likely would continue to see the price pushing higher, I would like to see the bullish Hidden divergence complete. So higher lows on the chart, lower lows on the MACD histogram to complete. And for that, we would need a verification on the lower time frame. And that's where it gets interesting. On the lower time frame, we did have here a beautiful 3 waves upside, and I believe we are now about to complete the 2 waves corrective movement. This corrective movement ideally should complete somewhere around this zone of 38 to 50% Fibonacci retracement. And here I would like to see a bullish divergence complete as well. So I want to see lower lows on the chart but higher lows on the indicator. This would indicate me that, okay, the sellers are likely losing their momentum there. So keeping this in mind, this scenario in mind, Let's put this back here and go to the 1-hour chart, um, and you would see this zone. By the way, you can see that I draw with my virtual trading pen, uh, so it helps me to go from chart to chart in different time frames and always see my measures there. It helps a lot. So the ideal scenario I would want to see is something like that. To gain the the lows, complete some sort of a divergence here as well, and then switch from the bearish trend to higher highs, pull back, and would be looking for the bullish setup. So this would be my first very interesting idea I would be following this week, and the second one goes and belongs to the euro pound, where I. Clearly see very interesting scenario here. The price came for a retest of a broken low. See, after this low, right, what did we have? We have here a fake low rally, higher highs, and a retest of this low now with a false breakout. So it tries to break below but pulls back upside again, and it catches my eye for maybe for a good reason, because the market also tries to create a bullish divergence everywhere. On the RSI, on the MACD moving averages, MACD histogram, it's all there. Going to the lower time frame, the daily chart, we can see that on the daily chart we didn't have much in terms of divergence, which by itself brings the possibility— and remember that I'll talk about that— that this would still reverse and make one more final low. But it's only, uh, possibility, because if we take a look a bit deeper with these lows— this is still the lows that belong to the weekly, right? But you can clearly see this divergence also on the daily chart. And when we go to the 4-hour to time the potential reversal, here is the scenario that I wanted to see on the chart. So we did have here a false breakout afterwards We don't have a full convergence in terms of higher highs on the chart and higher highs on the indicator, but we do have here at the moment 3 higher highs and higher lows. Now the interesting part is that this middle leg becomes shortest, which by itself is an opportunity that this is just an ABCD, maybe in a bigger variation like that. Right, and that's what remember I said. Remember the possible scenario, and if we break below this ABCD making the lows, then yes, likely we will see the new low achieved on a daily chart. But as long as didn't happen, here is the more likely scenario. This is the first leg. This is yet the developing second leg, and afterwards likely we would see one more. And if this analysis is correct, I find it a very interesting opportunity because on the four hour we don't have any divergence again. saying that it's over. On the 1-hour, I don't see any divergence that it's over as well. We just gain higher highs, no ending signs. And the way I see that, the most recent leg is gaining momentum by itself. So from my point of view, pullbacks here are likely to provide further bullish continuation towards The next important key zones. And what are these key zones? Let's drop some volumes on the four-hour chart. You can see I work here with the volumes on the market, and we can see classical zone here, which fits note on the bearish move down. If we drop Fibonacci, it is right there next to the fifty percent Fibonacci in between fifty to sixty one eight to be precise. And if we go with the expansion we were talking before. That this is a developing lag, and look where the 161.8 as well here in this zone, right? So it brings all the bullish momentum alive, and that's where it could go shorter and stop there. But as I said before, it could be just the beginning of something much bigger with the weekly divergence. Not trying to predict the future, that's not the case here. This is Uh, the video that's supposed to give you some interesting trading ideas to follow for the week. So that's pretty much it, uh, for, um, just delete these lines, uh, for this video and my 2 picks, uh, for the week. Uh, again, I hope you find it useful. And for all our other trading ideas that I share with you live in real time I invite you to join us in our trading family, Traders Academy Club. Enjoy our trading chat, enjoy our real-time trading videos, and all the education that I basically do real-time. And what can you expect to learn there? My trading techniques and basically my 3 steps in trading: the technical analysis, the way I do technical analysis in all the good and the bad scenarios, of course, The strategies I apply, if it's with the convergence, hidden divergence, the price action strategies that work with waves within the cycles, and of course the management. When do I cut my trades earlier? When do I cash out when I see signs against, etc., etc.? You are more than welcome to join our family, and I hope to see you with us. And thank you very much for watching this video. I wish you wonderful trading. Stay safe. Be well and all the best to you and yours. Thank you for your time watching this video. Bye for now.