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Lewglasgow

GBP/JPY - Relief RallyGBP/JPY -0.27% has been selling off from the 15th of December 2016 after completing the C point of this bullish 5-0 , it completed in between the 1.618 and 2.24 extension. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Since then I have been waiting for the C to D move to complete and it has finally happened, I predicted this almost one month ago here on TradingView (as shown below). Price met the 0.5 retracement at 136.500 to complete the D point upon market open this week, right inside a crucial support zone . This has potentially created a higher low in the market, thus providing an excellent opportunity to buy low. To validate the change in market direction I'm expecting price to increase following tomorrow's speech on Brexit with Prime Minister Theresa May (17th of January 2017). There is a bearish consensus around Theresa May's speech, those looking to punish Sterling further could be disappointed.
Long
by LewisGlasgow
7
USD/CAD - BreakoutToday we're taking a look at the recent breakout with USD/CAD on the daily chart. You can clearly see price has been trading within an ascending channel since mid 2015, creating multiple levels of support and resistance. Price has just broken out of this channel and closed below the trendline on Thursday/Friday, thus confirming a long-term shorting opportunity. We may encounter a retracement to the trendline before continuing the move lower! I'll be looking for extra validation on the lower timeframes this week.
Short
by LewisGlasgow
3
GBP/JPY - Bullish 5-0I'm getting ready for the weeks ahead, make sure to keep this one on your watch list! Here we have GBP/JPY on a 4h chart with an excellent buying opportunity if price continues to drop going into 2017. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 If we can complete our C point this move will take place in the forthcoming weeks, as always feel free to share any complimentary ideas and leave your opinion on this pair below.
Long
by LewisGlasgow
20
How to Trade the Head and Shoulders PatternHow to Trade the Head and Shoulders Pattern Hello traders, following up from my previous educational post I received several requests via private message for my take on the Head and Shoulders pattern. Featured on the chart is an illustration of a complete Head and Shoulders pattern including the rules I personally use to trade it. This is an easily identifiable pattern which can be traded across various timeframes which means it can be used by day traders, swing traders or even position traders. Why the Head and Shoulders pattern? It has an excellent risk:reward Appears on all timeframes and markets Easy to remember and find It has a precise entry, stop loss and take profit This formation is mainly seen at market tops. It is rarely perfect in appearance and you may need a good eye to spot one (check my head and shoulder trading ideas for an example). You can draw this pattern by using the TradingView tool found on the chart section named "Head & Shoulders" or by using trendlines. From personal experience the best performing Head and Shoulders pattern will have a right shoulder that is a 0.618 retracement of the head. The correct way to trade this pattern is to wait until the entire pattern has formed, then once price closes below the neckline... You can enter your position :) To round off this post I truly hope this explained how to trade the Head and Shoulders pattern so you can use this for your own trading. I am available via private message for any questions you may have.
Education
by LewisGlasgow
3
The 14 Stages of Investor Emotions"Master your emotions and you'll master the market" Hello traders, after receiving a lot of positive feedback from my TradingView educational posts I thought today I would break down a subject on trading psychology with the 14 stages of investor emotions. Learning how market cycles operate can be extremely beneficial to your trading, understanding the true influence of fear and greed. But... Controlling your emotions within the market is your main 'personal' objective, becoming an emotionless trader. It's what we're all told from day one right? 90% of trading is purely psychology. It is the main reason why so many traders fail as they let their trading become over-ruled by their emotions, thus making irrational decisions. Many traders will never overcome their inherent emotional biases, therefor you should seek to understand the range of emotions we may experience as investors and how it affects our interactions within the market. 1. Optimism: A positive outlook encourages us about the future, leading us to buy assets. 2. Excitement: Having seen some of our initial ideas work, we begin considering what our market success could allow us to accomplish. 3. Thrill: At this point we investors cannot believe our success and begin to comment on how smart we are. 4. Euphoria: This marks the point of maximum financial risk. Having seen every decision result in quick, easy profits, we begin to ignore risk and expect every trade to become profitable. 5. Anxiety: For the first time the market moves against us. Having never stared at unrealised losses, we tell ourselves we are long-term investors and that all our ideas will eventually work. 6. Denial: When markets have not rebounded, yet we do not know how to respond, we begin denying that we made poor choices. Our "long-term" view now shortens to a near-term hope of an improvement. 7. Fear: The market realities become confusing. We believe our positions in the market will never move in our favour. 8. Desperation: Not knowing how to act, we grasp at any idea that will allow us to get back to breakeven. 9. Panic: Having exhausted all ideas, we are at a loss for what to do next. 10. Capitulation: Deciding our assets will never increase again, we close all of our positions to avoid any future losses. 11. Despondency: After exiting the markets we do not want to trade ever again. This often marks the moment of greatest financial opportunity. 12. Depression: Not knowing how we could be so foolish, we are left trying to understand our actions. 13. Hope: Eventually we return to the realisation that markets move in cycles, and we begin looking for our next opportunity. 14. Relief: Having bought an asset that turned profitable, we renew our faith that there is a future in investing. To round off this post I truly hope this provided a more in-depth insight to the emotions which can occur during trading. I am available via private message for any questions you may have.
Education
by LewisGlasgow
33
NZD/CHF - Bearish 5-0Hello traders, here we have another 5-0 pattern but this time on the 4h timeframe with NZD/CHF. Once the market opens I will be looking for extra confirmation to enter this trade, I'm expecting price to sell-off right down to the daily trendline near the C point. This is an excellent shorting opportunity with over a 1:2 risk to reward. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I hope your week is full of profit, safe trading everyone!
Short
by LewisGlasgow
NZD/JPY - Bearish BatThere are some amazing setups forming on the charts, here we have NZD/JPY on the 1h chart with a potential bearish bat. Excellent opportunity we will be trading with over 1:2 or 1:4 risk to reward depending on your take profit level. The measurements for a valid bat pattern are detailed below. B: 0.382 - 0.50 C: 0.382 - 0.886 D: 1.618 - 2.618 Final X to D: 0.886 I'll be looking for extra confirmation once we approach our D point, I'm watching this pair heavily going into a new week.
Short
by LewisGlasgow
XAU/USD - $1249 to $1088Following up from Donald Trump's speech yesterday I'm expecting the U.S Dollar to continue weakening short term, thus providing excellent opportunities across the board. Here we have XAU/USD on the daily chart with a bearish 5-0 pattern, I have been closely watching this structure since mid December 2016. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I'm expecting price to reach the D point at $1249 just above the trendline and create a lower high in the market. I'll be going short from this area all the way down to the support level at $1088. In addition to the bearish 5-0, price is now approaching the 200 EMA (as shown below) near my projected reversal zone at $1249. Keep this one on your watch list!
OANDA:XAUUSDShort
by LewisGlasgow
10
CAD/CHF Bullish 5-0 400+ pips!!!Here we have the CAD/CHF on the 1D chart. We are looking for price to hit and reverse at either C point, then touch at the respective D point to complete the bullish 5-0 pattern. It should be noted that price has the potential to bounce in between either C point. In that case, we can adjust our D point accordingly. This one is looking good for the weeks ahead! Definitely one to keep an eye on! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I would really appreciate any feedback on this trade. Other ideas are more than welcome as well! Comment below! vv
Long
by cdschultheis15
USD/CAD - Bullish Crab 200+ move!!!Hope everyone has a great weekend! Weekends are always a good time to analyze the markets, along with preparing a game plan for the week to come! Today, we have USD/CAD on the 4H chart. Price has just broken the ascending channel and we have the potential for a bullish crab pattern. If price does reverse at D point, this could end up being a 200+ trade!! The measurements for a valid crab pattern are detailed below. B: 0.382 - 0.618 C: 0.382 - 0.886 D: 2.618 - 3.618 Final X to D: 1.618 I would really appreciate any feedback on this trade. Other ideas are more than welcome as well! Comment below! vv
Long
by cdschultheis15