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Lewglasgow

CAD/CHF Stong Trend ChannelHere, we have CAD/CHF on the 4H chart. I have been keeping my eye on this channel for the past month. If you are familiar with the book "Naked Forex", the past three price reversals have been TEXTBOOK PERFECT! The most recent price reversal was confirmed by a hanging man candlestick followed by a long bearish candlestick. We can expect the price to continue to drop to the .7200 level within the next week or so. When it does reach the .7200 level, we can then expect price to possibly reverse or break the channel. If the price does reverse, we can look to place a long position back up to the top of the channel. Lots of possibilities for this pair...
by cdschultheis15
Support & Resistance for Beginners Support and resistance acts as a barrier from preventing the price of an asset from getting pushed in a certain direction. It is one of the more difficult concepts within Technical Analysis, there are various ways to identify these price levels, and even after identified, there are plenty of ways of integrating and trading with them. Today I'm going to simplify it for all of the beginners on the platform (please remember to read the note provided). What is support? Support is the price level at which buying is thought to be strong enough to prevent the price from declining further. What is resistance? Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising further. The most common way to trade it is breakouts, this is when you buy or sell whenever price passes through a support or resistance level. As you may know support and resistance levels won't hold forever even though they can hold for a long time but the reality is... Eventually they will break and as a result of a breakout the moves can be really powerful. However there are some implications with this, many traders get in too quick. You may be thinking what should I be waiting for? Validation. As a key pointer wait until the candlestick has closed above resistance or below support until entering the trade, this way it will validate the price move up or down.
TVC:USOILEducation
by LewisGlasgow
9
Brent Oil - Bearish Shark (Trend Continuation)We're looking at UKOIL on a 1h chart, this is an excellent shorting opportunity to continue the long term trend... Don't miss out on this one! As you can see from the daily chart below we have been trading within a sideways channel since early 2016, price has approached a key level of resistance and is starting to stall out. The measurements for a valid shark are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13
TVC:UKOILShort
by LewisGlasgow
2
NZD/USD - BreakoutNovember has been a HUGE month for me and all of my students... Today we have an amazing long term setup forming on a Daily chart for NZD/USD. Straight away this could be an selling opportunity depending on the entry point to get into this change in trend. I'll be looking for opportunities on the lower timeframes in the near future. To round off we are currently trading below the 200 EMA which is an indication price could be pushing lower and we formed a valid head and shoulders pattern! Let's see how the market shapes up over the next month, if you have any additional analysis feel free to leave it below.
Short
by LewisGlasgow
2
EUR/USD - Bullish GartleyNovember is turning out to be a GREAT month. Here we have a bullish gartley on the 1D chart. Yes, another harmonic pattern in a trend channel... Given the trendline, we might want to look for price to go a little past the PRZ zone, but then we are definitely looking for a price reversal. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 Final X to D: 0.786 Download your FREE copy of the 7 Proven Steps to Becoming a Successful Forex Trader right here: www.sixfigurecapital.com Christopher D. Schultheis, Six Figure Capital
Long
by cdschultheis15
NZD/USD Bearish 5-0Today, we have a Bearish 5-0 pattern on the NZD/USD 4h chart. I never trade solely off Head and Shoulders patterns, but they are good for further confirmation. Depending on when the D point hits, I have given both options for the C measurement on the graph. They are differentiated by color: Green = C:1.618 Blue = C:2.24 Also, I have high lighted in red where the price jumped due to the Presidential Election yesterday... I am making a personal decision not to include that in the Right Shoulder or 5-0...it seemed to just be a hiccup in the market. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
Short
by cdschultheis15
GBP/USD - Bullish 5-0 (Ahead of the U.S Presidential Election)After two profitable trades using the 5-0 pattern in previous weeks here we have GBP/USD on a 4h chart with yet another 5-0 pattern. I'm absolutely loving the look of this, especially ahead of the U.S Presidential Election. (This is purely a technical prediction, I am not basing this analysis on who is likely to be voted) The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Credit to one of my students www.tradingview.com for spotting this setup, excellent. We'll see what happens very shortly, safe trading everyone.
Long
by LewisGlasgow
USD/JPY - Bullish 5-0Wow this is huge, today we have USD/JPY on a 4 hour chart with yet another bullish 5-0. Yesterday I posted my analysis on CHF/JPY with the exact same pattern... Here is my analysis below: The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 As mentioned in yesterdays analysis the 5-0 pattern holds a much better structure on the Daily chart but we shall see how the two scenarios play out. Just make sure to keep these two patterns on your watch list!
Long
by LewisGlasgow
4