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S&P 500 - Bullish AB=CD BAMMBullish AB=CD BAMM opportunity is now shaping up on the Standard and Poor's 500 index on the 4h chart. This one to one measured move looks excellent, the AB=CD completion is beyond the ATH at 2877, this is complemented by the reciprocal ratio of 0.5 which is the 2.0 projection. I'm expecting price to break resistance @ B followed by an acceleration in price action towards the pattern's completion. This move needs to be assessed in real time and we cannot use any limit orders, analyse price action upon the breakout of 2792 to determine the continuation. We will be trading with a tight stop loss if executed, target is 2892. You guys know what to do... Like, comment and share! I'll keep you all posted :)
SP:SPXLong
by LewisGlasgow
15
EUR/USD - Two Potential Setups (Gartley and Deep Crab)Quick post ahead of market open, I'm looking at EUR/USD on the 1h chart with a bearish gartley and bearish deep crab pattern. The first formation we will need to assess in real-time upon completion is the bearish gartley, we need to determine if the reversal will take place @ 1.17800 or 1.18415. I will be focusing on the 15m and 4h chart to back up my analysis and optimise entries. As always I will keep you posted on the patterns progress and if the trade is executed! I'm still short on EUR/JPY. You guys know how it goes... Like, comment and share ;) have a good week!
Short
by LewisGlasgow
38
EUR/GBP - Gartley 886What's up traders, I'm currently watching the gartley 886 on EUR/GBP 15m chart. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 Final X to D: 0.786 (0.886 due to AB=CD completion) Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. Checking 5m and 1h timeframe, pattern is now complete!
Long
by LewisGlasgow
2
Ripple - Price ChannelQuick outlook on XRP/USD with a descending channel on the 4h chart. Many of my followers have requested analysis for several cryptocurrencies and the vast majority are trading within price channels right now. The structure shown for Ripple can be seen in various other altcoins such as ETH (testing resistance) and SC. I'd pay close attention to the minor support trendline that price is holding above just now. If this is violated it would signal further declines (possible retest of $0.42) Feel free to share your analysis below!
BITSTAMP:XRPUSD
by LewisGlasgow
2
Bitcoin - Key StructureThe vast majority are still bearish on BTC, mainly due to structures on the lower timeframes indicating further downside. Taking a step back and analysing the 4h chart, it provides a different outlook. Straight away we can see many similarities in the way price has been moving since March 2018. Trading within clearly defined descending and ascending channels, with price reacting nicely at the upper and lower limits. Once the low was established at the beginning of April (2018-04-01) price experienced a bounce to $7,500 followed by a decline and this is where the rally began. Price moved from the lows of $6,500 to $7,200 to retest resistance, followed by a short-term pullback and an aggressive breakout. This extent of this move was an approximate 54% increase, this marked the first major correction of the move from $11,700 to $6,500. It measured at the 0.618 retracement which aligned with the ascending channel resistance, marking a key turning point in the market. Now looking at more recent price structure, we've broken out of the descending channel and currently trading at $6,540... We have yet to experience a larger correction of the move from $10,000 to $5,750. Right now my focus is on the high at $6,850, I'm looking for price to break and close above this level... An excellent confirmation of the larger correction at play. As for the lower timeframes (15/30 minute), this is would be my focus. It's worth mentioning... When analysing BTC on higher timeframes I use a logarithmic scale, I find it far more reliable. This measures prices in the proportional amount of percentage increase or decrease, providing us a fair representation of where bitcoin was, is and could be. If you found this helpful leave a like and comment! Have a great week everyone :)
BITFINEX:BTCUSDLong
by LewisGlasgow
13
GBP/USD - Bullish BatHello traders, here we have GBP/USD on the 15m chart with a valid bullish bat pattern. 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 XA Retracement: 0.886 Price has confirmed the PRZ which consisted of a 1.618 AB=CD, 2.24 BC and 0.886 XA retracement as the final ratio. I'm paying attention to this small structure in the PRZ on the 1m chart, awaiting a break to the upside. Due to the nature of this setup, I'm waiting for further confirmation of the reversal. If you found this helpful leave a like! Thanks for your support.
Long
by LewisGlasgow
4
AUD/NZD - Gartley 886 and CypherWhat's going on traders, I hope you've all had an excellent weekend. I'm bringing you an opportunity to keep on the watch list, today we have AUD/NZD on the 1h chart with a bearish gartley 886 and bearish cypher. Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. If we execute the trade based on the gartley, allow more room for the stop loss than usual... Between 1.0 and 1.13 of XA (beyond X). The cypher pattern uses a stop loss beyond X. Pay attention to both formations if we see price break above the 1.07800 area, we can then start considering a shorting opportunity. Feel free to share your views below.
Short
by LewisGlasgow
5
NZD/CHF - Bullish Bat (Back to Back)What's going on traders, I hope you've all had an excellent week. I'm bringing you an opportunity to keep on the watch list, today we have NZD/CHF on the 4h chart with a bullish bat pattern. It's a back to back setup as price previously formed a bearish bat pattern which almost hit SL at 1.13 of XA, price reversed and achieved TP 1 and 2. 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 XA Retracement: 0.886 We're looking at a 1.272 AB=CD, 2.24 BC and 0.886 XA in the PRZ for this particular setup. I'll update my analysis once all ratios have been tested in the zone! Have a great weekend :)
Long
by LewisGlasgow
7
NZD/USD - Gartley 886 Interesting situation on the 15m chart for NZD/USD just before market close. We've got a valid bearish gartley 886 that completed earlier today, price has now retested the same area and opened up a potential short. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 Final X to D: 0.786 (0.886 due to AB=CD completion) Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. If we execute the trade, allow more room for the stop loss than usual... Between 1.0 and 1.13 of XA (beyond X). Hold off on entry for now until we get a clear signal. Thanks for your support as always!
Short
by LewisGlasgow
14
USD/CAD - Bearish BatWe've got another bat formation on the daily chart, this time we're looking at USD/CAD. Price is 300 pips away from the PRZ so this is one to keep on the watch list... It has a lot of potential. 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 XA Retracement: 0.886 We're looking at a 1.618 AB=CD, 2.0 BC and 0.886 XA in the PRZ for this particular setup. Right now I'm paying close attention to NZD/USD which can be found in the related ideas. Enjoy your weekend everyone!
Short
by LewisGlasgow
4
NZD/USD - Bullish Bat Type-II RetestTraders I hope you're having a good week so far, today I'm bringing you a trading opportunity on the daily timeframe for NZD/USD. We're looking at a bullish bat type-II retest as the initial reversal in the PRZ was short lived. I believe once we can confirm this reversal it'll go the full way. 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 XA Retracement: 0.886 We're looking at a 2.0 AB=CD, 2.24 BC and 0.886 XA in the PRZ for this particular setup, all ratios have been confirmed and awaiting the "Terminal Price Bar" to close. This setup is extremely similar to my previous post covering NZD/CHF which is shown below. Thank you for your support!
Long
by LewisGlasgow
11
Bitcoin - One Step Forward, Two Steps BackAs we anticipate the bull market returning, we are quickly put back in our place by the bears. Further declines are more daunting than ever at this stage, there is a lot of uncertainty in cryptocurrency right now. I'd like to present a simplistic piece of analysis on bitcoin, I'm sure the novice technical analyst will be able to benefit from this post. Today I'm on the weekly chart using a logarithmic scale which displays prices based on percentage increase or decrease. I've based my analysis off several of my previous ideas, I've done a ton of research on bitcoin from a technical aspect and measured every individual cycle from minor, intermediate and major timeframes. This can be found in my previous idea " Bitcoin - Cyclical Measurements " and " Bitcoin - What's Next? " I do appreciate constructive comments, share your own analysis whether that be technical or fundamental. Let's dive into today's analysis. Straight off the bat we can see throughout the first major cycle the overall increase was roughly 52,000% (Not mentioned on the chart, this is highlighted in other analysis mentioned above) and the decrease was 87% which lasted 413 days. This was broken up by two main intermediate cycles measuring a decline of 81% and 82%. In the current market cycle, the increase measured at 10,000% or 13,000% (depending on which low you are measuring from in 2015) and the decrease still stands at an overall 70% from $20,000 to $5,900. Price is currently trading above this level at $6,460 which is my primary concern, the daily support trendline has been lost and further downside is likely. Taking a look at the daily chart below the expected overall decline is 80% based upon the weekly support trendline and key daily zone. At this point in time, a recovery is more than possible. I will be focusing on the 1h, 4h and daily timeframes to predict where price is likely to move next. If price breaks the low at $5,900 we will see further downside. On the 12h chart below I have highlighted the structure I will be focusing on to capitalise on the drop, this is just below $5k. Safe trading everyone!
BITSTAMP:BTCUSD
by LewisGlasgow
12
AUD/JPY - Bullish BatHi guys, here's another one to add to the watch list! This time I'm eyeing ups potential bullish bat on the Aussie-Yen. The Yen has managed to gain some strength across the board already today, but with this pair in particular price has recently formed into a ranging environment on the 4 hour chart. With this in mind, I will be keeping an eye on the 4 hour chart specifically for a reversal signal. As always risk should be minimum 1:2, but with pattern we should ideally be looking for 1:3. Bat Ratios B = 0.382-0.5 C = 0.382-0.886 D = 1.618-2.618 X to D = 0.886
Long
by KyleMcQuade
XAG/USD - Bearish ButterflyWhat's up traders. Looking at another bearish position today, this time we have a butterfly formation on silver against the dollar. The price of silver has been moving sidewards for over a year now and we are starting to see price become very compressed. The daily chart is sowing price being squeezed into a triangle formation (the high of which is set around the same area. As you can see price has began to drop slightly although it didn't exactly hit our PRZ at the 1.272 extension. The reversal signal came in the form of a bearish engulfing candle- unfortunately the close of this candle was too low for me and had too great an impact on the pattern's risk:reward. Should price push back and re-test this area we should then be looking for an entry. Again we will be using our 0.382 and 0.618 levels as our TP levels whilst keeping our risk:reward as close to 1:3 as possible. Butterfly ratios are as follows: B = 0.786 C = 0.382-0.886 D = 1.618-2.24 X to D = 1.272
OANDA:XAGUSDShort
by KyleMcQuade
8
CAD/JPY - Bearish Gartley Hey guys, back on the charts this week! Today I am looking at a bearish Gartley position on the cad-yen. Oil has been rallying since June last year and is currently at a point of making a higher low. Should this turn out to be a level of resistance rather than just a higher low then we may see further decline for the value of the Canadian Dollar. Furthermore we are also awaiting this month's release of the Japanese interest rate, which is expected to remain at -0.1%. Their trade balance is also expected to have dropped by 219B. With this pair we can clearly see on the daily chart that price has made created a new low, finding support before bouncing. We are now at a point where we are creating a lower high and testing a level where we have had previous support. As a result, this may be a key area to scope a short entry. On this occasion our risk:reward will likely be 1:2 as we are trading the Gartlery pattern- the entry points noted may be subject to change as per price action. We will also be using our 2 levels for TP1 and TP2 at the 0.382 and 0.618 levels respectively. Gartley ratios are as follows: B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 X-D: 0.786
Short
by KyleMcQuade
Bitcoin - Price StructureTraders I hope you are all well, today I'm presenting the basic price structure of bitcoin and what I see happening in the near future. Dropping down to the 30m chart we can see price formed a symmetrical triangle at the market low, followed by an unexpected impulse on the 12th of April 2018. This was followed a brief period of advancement and now a break to the downside which indicates a short-term correction (bitcoin at present). The extent of this correction can be measured as price develops, right now this is the two paths price will likely take. As mentioned, wait for further price action to unfold to dictate short-term direction. I'm currently in the process of producing a new article (relevant to my previous cyclical analysis) explaining how altcoins are now advancing into their first stage of a bullish cycle, this will be posted in the near future for you all to benefit from. I didn't want to drag out this post, it's fairly simple to understand even for the novice analyst. Thank you for your support!
BITFINEX:BTCUSD
by LewisGlasgow
13
GBP/AUD - Bullish AB=CDHappy Monday traders, the market is open! This week I am looking at a potential AB=CD pattern on the GBP/AUD. With this pattern our retracement falls between 0.5 and 0.618- specifically 0.567. Technically this is slightly closer to the latter, which would give us an ideal extension of 0.618. A 0.5 retracement would give us a preferred extension of 0.2, so I have drawn up both levels to provide you with a better visual of the potential reversal zone. Originally drawn on the 4 hour chart, the angle of our extension from C to D is identical to that of the AB wave. The timescale of the wave are also very similar with only 4 candles between them! When looking at price as a percentage, our original drop from A to B is 3.22%, while the projected extension comes in at 3.32%. AB=CD patterns should be as symmetrical as possible- however rarely perfect, we keep them as close as we can! Our PRZ lands on a level where price has turned from resistance to support which can be seen clearly across the 4 hour and daily charts! (see below). Price is currently entering a level where our weekly chart saw consolidation before continuing its bull run back in 2014. This is definitely an area to watch the GBP across all pairs! Looking ahead into this week and next week we have the AUD trade balance being released, as well as GBP CPI and GDP. As per usual the consensus is generally already priced in already, but we should be conscious of any surprises in the announced figures. AB=CD ratios are as follows: C: 0.382-0.886 D: 1.13-2.618 Risk with this trade will be at 3:1 and I will update as the pattern progresses!
Long
by KyleMcQuade
1
EUR/AUD - Bullish Gartley Hey guys! Looking on the 4 hour chart (borderline daily), we can clearly see a potential bullish Gartley formation. Our pattern is forming at a level where price is testing daily support, resistance which has recently been broken. Price is also just approaching a trend line which has already been tested twice on its current bull run. (see below) Looking towards next week, we are expecting the EURO CPI and Trade Balance, followed quickly by the AUD Employment Change. Taking this into consideration, price may get volatile as price either tests or breaks this new level of support. I will update as the position progresses! Gartley ratios are as follows: B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 X-D: 0.786
Long
by KyleMcQuade
2
USD/JPY Bearish BatWhat's up traders!? Following my previous idea, here is another position which favours a bullish Japanese Yen. The Japanese adjusted trade balance is expecting this evening at 00:50 GMT+1, with a positive consensus of 610 Billion higher than the previous release of 1.03 Trillion. My decision to take the trade will depend on the release later this evening, but will obviously be built around what we see on the chart! Looking at the weekly chart, this level has historically at time been a level of support and resistance where price has sharply reversed (see below!) Bat ratios are as follows: B = 0.382-0.5 C = 0.382-0.886 D = 1.618-2.618 X to D = 0.886 Risk with this trade would be at 3:1 and will be updated as the trade progresses. I will advise when I take an entry, if I decide to do so. See my CAD/JPY idea below, based on the same announcement!
Short
by KyleMcQuade
1