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Lewglasgow

GBP/JPY - Bullish ButterflyThere are some amazing setups forming on the charts, here we have GBP/JPY on the 4h chart with a potential bullish butterfly pattern. Excellent opportunity with over 1:4 risk to reward! 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 I'll be looking for additional analysis once price approaches the potential reversal zone. I hope you all have a great week of trading :)
Long
by LewisGlasgow
6
GBP/CHF - Bearish BatHello traders, here we have GBP/CHF with a bearish bat pattern on the 4h chart. Excellent opportunity with over 1:4 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 The D point formed on a major level of resistance, I'm expecting price to sell-off very shortly. Taking a look at the bigger picture (chart is shown below) this trade is a no-brainer for me. Everyone in my Telegram channel has been alerted on this position. Don't forget to follow me on social media :)
Short
by LewisGlasgow
14
EUR/AUD - Bearish 5-0I'm back with another 5-0 pattern but this time on the 4h timeframe with EUR/AUD. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Price is currently forming the C leg which will complete in between 1.618 and 2.24, it will more than likely complete at 1.618 as this is a key level of support. It appears a valid head and shoulders pattern has formed and price is currently sitting on the neckline. This is an early prediction but I love to pick out market turning points :) I've got more analysis on the way, stay tuned!
Short
by LewisGlasgow
NZD/USD - Bullish BatHello traders, following up from my previous post on NZD/USD with a three drives pattern (chart is shown below), price is now forming a bat pattern on the 1h timeframe. I'm expecting a short-term trading opportunity before continuing the bigger picture. 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 Thank you all for your continued support, don't forget to add me on social media :)
Long
by LewisGlasgow
16
EUR/USD - Three DrivesHello traders, following up from my previous post on EUR/USD with a bullish BAMM setup (chart is shown below), price is now forming a bearish three drives pattern on the 4h chart. Price completed the 2nd price drive at 1.23 and we're now beginning the 3rd price drive which I plan to capitalise on. You will need to pay close attention to price action and candlestick formations in the current area for the perfect entry point. A clear break and close below the trendline would indicate a move lower, therefor invalidating the pattern. This is a great trading opportunity with almost 1:4 risk to reward. Thank you all for your continued support, don't forget to add me on social media :)
Long
by LewisGlasgow
60
USD/CHF - Bearish 5-0Hello traders, following up from my previous post on USD/CHF with a descending channel (chart is shown below), price has now formed a perfect bearish 5-0 pattern on the 4h chart. 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 consider this pattern to be perfect as both B and C points come in a 1.618. Currently price is stalling at the top of the channel, I'm expecting a sell-off right down to support. I hope you all have an excellent week. Here's to your success!
Short
by LewisGlasgow
10
Why You're Failing as a Harmonic TraderWhy You're Failing as a Harmonic Trader There is an overwhelming amount of traders out there who are using harmonic patterns in the completely wrong way, I would like to address these issues individually to help all of the new traders out there who may not be aware of these mistakes. 1. Using the wrong ratios for each pattern. The most common issue with harmonic patterns, using the wrong ratios. It's scary, search the pattern you're trading and I guarantee you end up with 5 different sets of ratios, and you're left asking yourself which ones are correct? 2. Contradicting signals on multiple timeframes, going against the bigger picture. Harmonic patterns, which develop on different timeframes, may show conflicting signals. You may see a bullish and bearish pattern on two immediate timeframes, this may create confusion for a novice trader. 3. Misplacing stop loss levels, therefore increasing the likeliness of being stomped out. Common stop-loss rules are prone to easy manipulation by major players and can become a major drawback, this is why I have defined my own rules for stop loss and take profit targets. 4. Wanting the market to see your pattern. In your head, you want the market to see your pattern and you force it onto your chart. You try to make it fit the market rather than letting the market fit the pattern. Please understand, the market does not care how you think or feel, when you show up you need to bring your A game. 5. Not going with key support and resistance levels. Most novice harmonic traders assume that if they find a valid pattern it will automatically reverse once it reaches the potential reversal zone, however nothing else is indicating a reversal at that level. Always go with the key level in the market, if your D point aligns with a weekly level of support or resistance this provides strong reasoning for a reversal. I am available via private message for any questions you may have. Here's to your success!!!
Education
by LewisGlasgow
13
GBP/USD - Bearish BAMMWow this is huge! Today we have GBP/USD on the 1h chart with a bearish BAMM (Bat Action Magnet Move) setup. 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 looks good to short from the current level with a stop loss set above previous resistance. Green area displays the profit zone. I understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point. Feel free to connect with me on social media below :)
Short
by LewisGlasgow
6
ETC/USD - Cup and HandleUpon finding this cup and handle pattern it reminded me of a brilliant idea by www.tradingview.com The graphics are just for a bit of fun :) but this is the structure I'm currently watching for ETC/USD. Less than 24 hours ago I posted my view on the 1h timeframe featuring an ascending channel (chart is shown below). This provides us with an excellent scope on future price direction, which I will use to my advantage for an ideal entry point. In addition to all of the above, price has formed a valid bearish bat pattern on the daily timeframe (chart is shown below). This correlates with the cup and handle pattern as it indicates a move lower before we breakout of the $3 range. I've got plenty more analysis on the way, keep supporting my ideas and don't forget to add me on social media!
KRAKEN:ETCUSDLong
by LewisGlasgow
38
ETC/USD - Price StructureWhat's up everyone, here we have ETC/USD on the 1h chart with a very distinct ascending channel. Price has been trading within this area for one whole month testing both support and resistance various times, with no sign of a clear breakout. The purpose of this post is to highlight the key price structure within the market... Refer to this chart whether you're going long or short. I expect price to create a new all-time high in the near future. Connect with me below for more trading inspiration :)
BITFINEX:ETCUSDLong
by LewisGlasgow
1