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Lewglasgow

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
MaidSafe - Bullish Bat (Low Buying Level)What's up traders, today I'm looking at MAID/BTC on the 4h chart with a bullish bat pattern, this pattern completes near the all time low for MaidSafe and it's exactly why it caught my attention. 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 Credit to www.tradingview.com for spotting this formation. Right now price has decline by 52% and the overall correction at the PRZ is 64%. Once the pattern completes I will update the idea before going long!
MLong
by LewisGlasgow
11
EUR/USD - Bullish GartleyFollowing up from my previous successful bullish gartley for EUR/USD, we've now got another bullish gartley but this time on the 30m chart. 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 As you can see the PRZ forms on a critical level of support, this is an ideal area for a reversal to take place. You can check out my previous EUR/USD idea here. I'll re-analyse upon completion, this setup provides a 1:2 risk to reward.
Long
by LewisGlasgow
3
Bitcoin - What's Next?Traders, I believe you will like the facts put forward in today's analysis. I've previously spoke about the direction of BTC on the 15m, 1h and 4h charts but I feel a reflective post on the weekly chart is well overdue. Since my post on the cyclical measurements of bitcoin in December, price has created a new low at $5,900, it is now time to start analysing the potential for 2018 and not to concern ourselves too much with intraday movements. You can read my post from December below. Today I'd like to present a more focused view on bitcoins current situation, analysing minor and intermediate cycles. As mentioned I'm using a logarithmic scale which presents prices in the proportional amount of percentage increase or decrease, providing us a fair representation of where bitcoin was, is and could be. I've broken down only the most recent cycle measured from the breakout of the all time high at $1,180 to the potential new all time high being the market top. There is now a new measurement in this piece of analysis from the low created at $5,900 to the potential new all time high. The measurements show the percentage increase upon achieving targets at $20,000, $50,000 and $100,000 as there seems to be a lot of financial articles relating to these figures as the predicted long term targets for the asset. $5,900 to $20,000 = 240% increase $5,900 to $50,000 = 750% increase $5,900 to $100,000 = 1580% increase If you compare our most up to date targets with those measured from the breakout of the all time high at $1,180, you can see how these levels are more than achievable long term now that the market has corrected. To those who simply don't understand why market cycles occur, to put into the most simple context it operates on a basis of two main emotions. 1. The greed for profits. 2. The fear of losses This is why the public gets in at the top and gets out at the bottom, because their prime drivers are just that, nothing more, nothing less. It's funny, whenever Bitcoin was sitting at $18,000 all I ever heard people say was "If bitcoin went back down to $10k I'd be the first to buy it" or "I wish I bought BTC at $6k, I would've made a fortune". Those people are the same ones who are still not buying now, the ones that bought at $18k because it's "booming" and they failed to recognise the signs of a storm. In this post, I will not rant about these types of traders, I will keep it strictly technical and provide a deeper understanding on bitcoins situation. I will need to continue this idea in the updates section.
BITSTAMP:BTCUSD
by LewisGlasgow
114
GBP/NZD - Bullish BatHello traders, here we have GBP/NZD on the 1h chart with a valid bullish bat pattern. All-round excellent opportunity with over 1:2 risk to reward. 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 This is one to watch right now, I thought I'd share this before heading off for the day. The D point forms on a key daily support level, I will share more analysis as the pattern progresses. I'll be looking for additional confirmation before taking the trade!
Long
by LewisGlasgow
5
Ripple - Measured MoveI'd like to present a short post covering Ripple in relation to the market-wide correction. As mentioned in my Bitcoin post the magnitude of the correction for most cryptocurrencies has been amplified as the entire market capitalisation dropped from $830 billion to $310 billion, which is over a 50% decline market-wide. As you can see from April/May 2017, price increased by 1453% within 27 days followed by a correction of 72% inside 10 days. This was followed by a period of congestion which lasted 194 days until we experienced the next bullish cycle. Now looking at the current cycle which started in December, price increased by 1545% inside 28 days which is extremely similar to the move back in April/May 2017. This was followed by a correction which now stands at 82%. XRP has lost 82% of its value within 33 days, which is 3x longer than the previous correction, although this was followed by 6 to 7 months of congestion. The lowest price I see XRP returning to is $0.44 at the previous high which means it would be standing at an 87% decline from the all time high. I will be waiting for the next daily close to determine if the market has bottomed, which to me it appears it has, we cannot be sure for now. From here we can use this opportunity to accumulate XRP at low levels.
by LewisGlasgow
14
The Major Impact of High Risk TradingI feel this post is well overdue, and considering the current market standing in cryptocurrency it couldn't have come at a better time. Today's post will be an eye opener for many, and others common knowledge. I hope you guys gain a lot of value from my insights and use this to your advantage in the markets. The following educational post relates to the trader behind the charts, it is not specific to one financial market meaning it applies to all but today, I will be talking about this in relation to the cryptocurrency market. The Major Impact of High Risk Trading Right now, the cryptocurrency market has lost 50%+ of its overall value, meaning a lot of new and existing traders are suffering huge losses (to anyone who comments "you only lose when you sell" - we'll talk about this later in the post) and their portfolios are in the red. I receive a lot of messages on a daily basis, recently they have been of the following context. Follower: "I'm holding XRP (BTC, ETH, TRX, ETN, LTC, the coin doesn't matter, the message does) from $3 and it's now at $0.70, should I sell?" I know most of these messages are out of panic, looking for an option, hopefully advice on how to regain those losses. Do I tell people to buy or sell? Of course not, it's their investment, however I do provide my insights on where the market is heading next to help them understand their situation. If you are this person, there is good news... You've already held through a serious correction, why are you thinking about selling now? Take a look at the chart shown, as you can see I have illustrated "percentage loss" which is of course the amount you have lost on one given position or your entire portfolio. We have "percentage difference from previous loss" now let's say for example you're holding XRP at a 33% loss and this quickly changes to a 50% loss, you can agree the difference is 17%. And finally we have "percentage gain to break-even", this points out the required increase in capital to regain the losses that have occurred. If you invested $1,000 in XRP $2 and sold at $1, you can agree this is a 50% loss in capital and you now have a $500 portfolio. To regain those losses and return to break-even you would need to gain 100% which is 2x. Let's start to break down the numbers. If your portfolio is down 33% you will need to gain 50% to get back to break-even. At this point, you are concerned but you're convinced the market will pick back up next week, so you don't take any action. The following week your portfolio declines a further 17% which brings the overall loss to 50%, to get back to break-even you need to gain 100%. This is when panic sets in, you've went from $10,000 to $5,000 in one month, the entire market is down and at this point you consider selling. Now, you can see where this is heading. The market declines a further 16% bringing your portfolio into a total decline of 66%. At this stage you now need to increase your portfolio by 200% to get back to break-even. What do you noticed when you get further and further down the list? The percentage difference becomes smaller but the percentage gain to return to break-even increases drastically. If you lose 83.3% of your portfolio, which I have witnessed, you will need to increase your portfolio by 500% which is 6x just to get back to break-even, a further 2.4% decline would require a 600% increase which is 7x. Am I telling you to sell? No, not at all, there is an extremely valuable lesson here. Let's say you are the person who has bought Ripple (XRP) at $3 and it's your only crypto, you're now holding at $0.70 which is a decline of 75%+ meaning you need to increase your portfolio by 300% to regain initial losses, which is 4x. Buying high is a rookie mistake, many people can't think of anything worse but I definitely can. Buying at the top followed by selling at the bottom. I will need to continue this idea in the updates section, it's too long.
BITFINEX:BTCUSDEducation
by LewisGlasgow
35
Bitcoin - Market CorrectionI feel there is a need for another insightful post in regards to BTC/USD, today's analysis is on the 4h timeframe. This is following up from my post 2 months ago where I predicted the next corrective phase to begin at $20,000, from here we experienced a market decline of 50% before price settled. The magnitude of the correction was amplified as the entire market capitalisation dropped from $830 billion to $350 billion, which is over a 50% decline market-wide. We've been looking for low levels to buy bitcoin throughout January, although having two successful long positions this month price is yet to find the bottom. The current bullish bat formation looks excellent, the D point holds price at a 64% correction, which is substantial given this happened within a 6 week period. 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 The ratio alignment for this setup is excellent, the D point also aligns with a trend based fib-extension from A, B, C at 1.414, this is not shown on the chart. Below is a simple overview on the daily chart. We're still in a good area of support which of course aligns with the bullish bat, to me this is a reversal zone worth watching. To add, I'm using a logarithmic scale instead of the standard linear scale. Keep this setup on your watch list :)
BITSTAMP:BTCUSDLong
by LewisGlasgow
60
Bitcoin - Bullish Deep CrabWhat's up everyone, I'd like to provide some technical thought amongst all of the madness in the crypto world right now. Bitcoin is currently forming a bullish deep crab pattern on the 1h chart, providing a trading opportunity with a 1:2.5 risk to reward. The measurements for a valid deep crab are detailed below. B: 0.886 C: 0.382 - 0.886 D: 2.24 - 3.618 X to D: 1.618 I'll be expecting price to stall out once it reaches the D point, this forms on a key level of support! As you can see from the daily chart below the pattern completes slightly above the daily support trendline. This is sufficient reasoning for a reversal to take place and seems likely considering Bitcoin has already corrected by 50% since the all time high. Keep this setup on your watch list :)
BITSTAMP:BTCUSDLong
by LewisGlasgow
104
The People vs. The BanksWelcome back traders, I hope you had a wonderful Christmas and New Year! We're now getting back into the charts it's a brand new year, new opportunities and what a start it has been :) cryptocurrencies are through the roof! Today I'm breaking down two assets which are breaking records and funnily enough one of cryptos most well known rivalries, ripple vs. stellar. As you will know by now, both of these cryptocurrencies have been making headlines for the past month, their growth has been tremendous and to those who took my advice at the beginning of 2017 on both of these assets will have a very nice portfolio, I've received many kind messages with people sharing their results and that's what I love most about this business! However, as good as all this sounds it's at times like this when investors are blinded by 10x and 20x returns, and I come along to bring them back to reality, markets move in cycles and I hate to see traders buy a market top or hold through a 95% correction. XRP current price = $3.68 1 month ago = $0.25 STR current price = $0.86 1 month ago = $0.09 Just take a look at those figures for a second, that's in one month alone. Similar to the moves we experienced in April/May 2017. First, let's take a look at Ripple on the left (XRP/BTC) As we can see from the chart the average increase is 1494% including the present price increase but not accounting for the 5412% total increase in 2017 as this was broken up by a 69% correction. Since the beginning of December 2017 price has increased by 1890% as XRP makes headlines all over the world, it is now the second largest cryptocurrency by marketcap. Let's take a look at the downside of these moves. As you can see these impulsive moves are followed by a correction greater than 69% and actually two of them resulting in a 95% decline. The average correction is 86%. Now, picking out a market top is not simple although I have done this in the past. If we experience a correction from the current level you can expect a correction of at least 50% before the move up continues. A lot of individuals claim XRP will hit $10 and for their satisfaction I have included a target level for this (this price level is based on the current BTC price) which is the exact same percentage increase as we seen in 2017... The total move = 5412% from low to high. If we do see price achieve $10 the correction to follow will be of significance, I expect XRP to lose more than 70% of its value at this price level. Now, we have Stellar on the right (STR/BTC) The average price increase is 2487% including the present price increase. Since September 2017 price has increased by 2794% bringing it back into the top 10 on coinmarketcap.com. We can see that both corrections for Stellar resulted in a 96% decline which is extremely similar to XRP. Again, I see a correction of at least 50% for Stellar very shortly. Taking all of this analysis into account, these charts need to be compared to the asset quoted in USD, I will update this post in the future with the comparison. I will also be updating the idea on a shorter timeframe to pinpoint where the correction will occur. Feel free to check out my previous posts on market cycles. Bitcoin: Altcoins: I wish you all the utmost success in 2018.
S
by LewisGlasgow
60
EOS - Price StructureTraders, I hope you're all having an excellent weekend. EOS/BTC was requested by one of my followers and I found the price structure extremely interesting, therefore, I'd like to share my thoughts with you all. The chart shown is on the daily timeframe. Considering this asset only has over 5 months worth of price history, it has more to show than the vast majority of cryptocurrencies in the top 50. As soon as EOS became available we experienced an impulsive move over several days, followed by a 96% decline. Once the bottom was found during late October, price climbed over the period of 5 weeks amounting to a 386% increase. We're currently experiencing a correction period which is less than 45% as we speak, I'm expecting price to drop to the support level indicated which would be a 51% correction. This would be a key area to buy EOS in my opinion, at 0.00020000. Feel free to contribute to this analysis, if you have anything to share leave a comment below.
Long
by LewisGlasgow
22
IOTA - Bullish 5-0 (A Parabolic State)What's up traders, today I've got another outlook on cryptocurrencies and my target is IOT/BTC on the 4h chart. Price has formed a valid bullish 5-0 pattern which aligns with the majorities vision for the asset... I believe there is huge upside potential and this trading setup could potentially identify the end of the correction. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 The B point forming at a solid 1.13 which is a failed price wave, as price quickly reversed from this level preventing the price of the asset declining further. All point of the pattern formed on exact projections, such as the C point at 2.0. The pattern officially completes at the 0.5 retracement level of B to C but in this situation I'm using 0.618 as the maximum buy point, which you will see happen frequently in these formations, price will pass 50% to test the lower level... If we see a clear close below the 0.618 the pattern is void in my opinion. As you can see we have a price gap on the left of the chart which aligns with the 3.14 projection for this parabolic move, I see the market attempting to fill this gap. I hope you all have a great weekend when it comes.
Long
by LewisGlasgow
96
Ethereum - Harmonic OutlookTraders, I advise you to read this entire post to gain a better understanding of what I'm looking at. It's been a while since my last trading position on ETH, back in August price completed a valid bearish bat pattern (shown on the chart) which was followed by a decline of almost 50% in two weeks. Taking the time to reflect on Ethereum's situation from a technical standpoint the future direction is now becoming far clearer. It has been struggling to break the $300 range for sometime now but a move above $400 is on the horizon. Today I'm going to break down every aspect of the chart and explain in detail what I feel is happening from a technical perspective. We're on the 4h chart with ETH/USD. 1. Bearish bat 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 A closer look on the 4h chart at my previous pattern, take profit levels 1 & 2 were achieved in a relatively short time period. 2. Daily price structure Right now price is trading within a small zone, between a minor resistance and newly formed support trenldine, which aligns with levels A & C of the bearish butterfly. 3. Bearish Butterfly The measurements for a valid butterfly pattern are detailed below. B: 0.786 C: 0.382 - 0.886 D: 1.618 - 2.24 X to D: 1.272 It's not uncommon for harmonic patterns to occur one after another, especially with the previous pattern securing a nice return. Currently price is completing the C to D leg of this structure and I estimate the pattern will complete on the 30th of November based on my measurement rules shown below. The amount of time it takes price to form X to B is the projection for B to D. Now remember, this is not certain... There will be many times when patterns take 2x longer to complete and still result in a profit. I am only using my common principles to accurately determine the completion of the pattern. 4. Current price action I would focus on the basics as of right now, I'm looking for a break of minor resistance and the support trendline to hold in order for the bearish butterfly to complete. In the near future I will update this idea with my thoughts on Ethereum. If we experienced a situation where the following happened. It would still be a valid setup, as long as the C point does not exceed 0.886 and the lower trendline support is in tact. If the bearish butterfly pattern completes I will let everyone know if it is a good area to short or close long positions, what we may find it the future is price pushes to around $520 at a 1.618 extension. I hope this post has been helpful, feel free to leave a comment below.
BITFINEX:ETHUSD
by LewisGlasgow
43
CAD/CHF - Bearish BatHello traders, here we have CAD/CHF 0.02% on the 1h chart with a valid bearish bat pattern. All-round excellent opportunity with over 1:2 risk to reward. 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 This is one to watch right now, I thought I'd share this before heading off after a loooong day. I'll be looking for additional confirmation before taking the trade!
Short
by LewisGlasgow
23
Bitcoin - Bearish AB=CDTraders, today we have BTC/USD on the 4h chart with a bearish AB=CD pattern. The measurements for a valid AB=CD pattern are detailed below. C: 0.618 - 0.786 D: 1.272 - 1.618 I'd like to break down several aspects of this chart in order to show everyone exactly what I'm looking at. #1: Ascending channel and untested high Price is showing signs of indecision at resistance around $6,000. Previous ATH still untested. #2: Potential three drives formation #3: Similarity in price moves Price move A to B to achieve the previous ATH at $5,000 is similar to C to D. As always use this analysis in relation to your own. I'll be updating this idea as it progresses, I hope you all have an excellent weekend.
BITSTAMP:BTCUSDShort
by LewisGlasgow
11
Ripple - The Road to $1What's up traders, I'm back with a brand new market insight on cryptocurrencies, today I'm on the 12h chart with XRP/BTC. This is my first piece of analysis since my prediction back in April 2017 when I predicted the breakout from $0.03 (chart is shown below). Ever since investing in Ripple in early 2017 I've always had a long term target of $1 based on the technical aspect of the asset and the fundamental background of the company. The curve presented on the chart can be seen across various financial markets and is simply a representation of an asset becoming less valuable over a long period of time. (Since Ripple achieved a new all time high the asset has depreciated 85% and created a market low at 3450). You can see the curve illustrated is similar to the one we previously experienced this year. The present curve is acting as a resistance barrier which is keeping price from breaking out, as you can see we have formed a solid support trendline and price is now being squeezed between 4000 and 6000. We need a lot of volume behind this move for it to be successful, I believe the SWELL conference can provide this if the result is positive. To all of you who are not aware Ripple are holding the SWELL conference in Toronto over the next 3 days and this will impact the short term direction of Ripple, you can tune in to watch it live here: swell.ripple.com A lot of hype has been built up around this event but it was shortly buried as BTC stole the spotlight with a move to around $6,000. I'll be sure to update this move as it progresses, I look forward to watching the live feed for SWELL and see how the market reacts, if the result is negative I still believe Ripple to be an excellent addition to anyones portfolio over the longer term. Don't forget to leave a thumbs up and follow me for more analysis.
Long
by LewisGlasgow
20