Weekly Summary And Review September 3rd 2021

Hi Traders! Weekly summary and review September 3rd, 2021 is here. It is now time to recap and summarize the trade setups that we had during the past week. Below you will find the short explanation of all the trade setups we had in this week and how it has currently developed now.

Trading Ideas (Blog Posts)

EURUSD – My idea here was “On the H4 chart, we have a bullish divergence that has formed between the first low that has formed on 11th August 2021 and the second low that has formed on 20th August 2021 based on the MACD indicator which we may consider as another evidence of bullish pressure. Then the price moved higher and broke above the last high at 1.18045 which we may consider as yet another evidence of bullish pressure. Until the three support zones (marked in blue) holds my view remains bullish here and I expect the price to move higher further”.
Current Scenario – Based on the above-mentioned analysis my view was bullish here and I was expecting the price to move higher further until the three strong support zones hold. The price action followed my analysis here exactly as I expected it to. After the breakout above the last high at 1.18045, we had a pullback and the price which was moving lower reached the first strong support zone, respected it and bounced higher from this zone. The price then moved higher further and delivered around 120 pips move so far.

You can find a detailed explanation regarding this here: EURUSD Forecast Follow Up And Update

Dollar Index – My idea here was “On the H4 chart too we have a bearish divergence that has formed between the first high that has formed at 93.167 and the second high that has formed at 93.716 based on the MACD indicator which we may consider as evidence of bearish pressure. Then the price moved lower and broke below the low at 92.439 and has created lower lows based on the moving averages of the MACD indicator which we may consider as a sign of gaining bearish momentum. Until the two strong resistance zones shown in the image below holds my view remains bearish here and I expect the price to move lower further. If the price moves higher further and if we get a valid breakout above the invalidation level shown in the image below then this bearish view will be invalidated”.

Current Scenario – In Dollar Index based on the multi-timeframe analysis my view was bearish and I was expecting the price to move lower further until the two strong resistance zones hold. The price action followed my analysis exactly as I expected it to here. The price which was moving higher reached the first strong resistance zone, respected it and moved lower from this zone. The price then moved lower further as I expected it to and delivered a nice move to the downside so far.

Ripple – My idea here was “On the H4 chart too, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment here as well. After the strong bullish move, we had a correction in the form of a range here and the price which was respecting this range so far has currently broken above the top of it and is holding above it. In addition to this, the ADX indicator gave a bullish signal here at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25. We may consider these as evidences of bullish pressure and also there are no signs opposing this bullish view, here as well. So based on all this my view here is bullish and I expect the price to move higher further until the bottom of this range holds”.
Current Scenario – On the H4 chart, the price action is following the bullish expectations so far. Until the bottom of the range holds my view still remains bullish here.
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To your success,

Vladimir Ribakov
Certified Financial Technician

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.