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Lewglasgow

CHF/JPY - Three DrivesHello traders, this is an early prediction for CHF/JPY which I will update as the trade progresses. Today we have a potential bullish three drives pattern on the 4h chart with several trading opportunities, long and short! Price has now completed the 2nd price drive at 1.44, but it could drop to a maximum of 1.618 therefor altering the entire pattern. I'm going to trade this differently, rather than waiting for the entire pattern to complete I will be going short from the 0.618 or 0.786 retracement level. To back up the price move we have a valid AB=CD within the three drives structure, with a similar amount of price bars although the time completion is slightly off for the C to D leg. As always, trade safe everyone.
Long
by LewisGlasgow
AUD/JPY - Bearish 5-0I'm back with another 5-0 pattern but this time on the 4h timeframe with AUD/JPY. Price is currently completing the C point at the minimum 1.618 but it could drop further to 2.24 before making a move towards the PRZ. 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 5-0 structure has a perfect reciprocal AB=CD pattern within it, which completes at the 50% retracement level at D. I hope you all have a great week, don't forget to add me on social media!
Short
by LewisGlasgow
2
USD/CHF - AB=CD + Fibonacci Retracement + Moving AverageHello, traders! Today, we are looking at TONS of confirmation with the USD/CHF on he 1D chart After the completion of the Bullish ABCD pattern, it looks as though price will be reversing at the 0.618 level. This is also confirmed by the Moving Average Indicator set to 50. Price will continue to go down in the days to come as long as price doesn't break out of the descending channel . Risk Ratio 1:2 The measurements for a valid ABCD pattern are detailed below. AB: 0.618 - 0.786 CD: 1.272 - 1.618
Short
by cdschultheis15
2
XAG/USD - A Short Review of the 5-0Harmonic patterns are a very precise way to trade, if executed correctly. BUT... The 5-0 is my all time favourite pattern to trade, my accuracy with this pattern across all financial markets is absolutely mindblowing. Two months ago I posted a 5-0 pattern on the 4h timeframe (chart is shown below), I'm using the same timeframe today and now that the move has finished I'd like to give you guys a short review of this trade from top to bottom. I encourage you to click the play button (load new bars) on the 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 This setup offered an excellent risk to reward of 1:3. The C point formed just below 2.24, creating an opportunity to short as it formed a valid bearish shark pattern (chart is shown below). Most shark patterns turn out to be 5-0's, providing a double trading opportunity like the one shown. The outcome was absolutely perfect, the reversals were extremely precise and it's the main reason why harmonic patterns are becoming the most popular way to trade. I am available via private message for any questions you may have. Don't forget to add me on social media :)
OANDA:XAGUSD
by LewisGlasgow
5
How to Use Fibonacci RetracementsHow to Use Fibonacci Retracements I'm back with another educational post after receiving a lot of requests and today's lesson is on how to use Fibonacci retracements. I've used a recent market example with NZD/USD to break this down for you. Let's get straight into the finer details before breaking down each section of the chart shown. Fibonacci retracement levels are amongst the invisible levels of support and resistance within the market, providing objective price reference points. Essentially where the flow of buying and selling is likely to change. The main Fibonacci retracement levels used are shown below. Fibonacci Ratios 0.382 (Indicating a strong trend) 0.50 0.618 Where can I find the tool? You can find the Fibonacci retracement tool in the chart section by going to your left sidebar, third section down and the icon is three horizontal lines. Upon your first use of this tool, you will want to edit the settings and add in the three ratios stated above if they are not already there, make sure you tick the boxes to use them. How do I use it? To apply the tool on your charts click from high to low to measure the full price swing. OR Draw in your tool from low to high depending on the market situation. Breaking down the charts If you're basing your trades off Fibonacci retracements they work at best in trending markets, but if it's used as a part of your strategy it can be effectively applied to any or most types of markets. Now let's look at the chart for recent examples of price reversals using Fibonacci retracements. If you look at the example on the left-hand side, I measured from high to low and price hit bang on the 0.618 retracement level. Your question right now will be... How did you know it was going to reverse? I personally go off the retracement level that is causing the most activity within the market. Have a look at price history and see what is happening at the particular level, is there a lot of stalling? Is it a key support or resistance level within the market? If so, price will more than likely reverse there in comparison to the other retracement levels. To validate the reversal you will, of course, want to analyse price action, what are the candlesticks telling you? Any signs of indecision or stalling at a certain level will help you make a solid choice whether to take the trade or not. Now let's take a look at the right-hand side, this time I have two examples (again I measured from high to low). You can see from the top example price pulled back to the 0.382 and 0.50 retracement levels not once or twice but three times before dropping. Indicating a very strong resistance level! The bottom example is a similar situation, price spiked up above the 0.50 retracement level (all candlesticks closed below) before heading in the opposite direction. To round of this educational post, I hope you found this extremely useful and you can now use Fibonacci retracements in your own trading. I am available via private message for any questions you may have. Here's to your success!!!
Education
by LewisGlasgow
25
USD/CHF - Price StructureWhat's up everyone, here we have USD/CHF on the 4h chart with a very distinct descending channel. Price has been trading within this area since November 2016 testing both support and resistance various times, with no sign of a clear breakout. This could potentially form a bullish three drives in the near future. 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. Please feel free to leave your opinion below.
Short
by LewisGlasgow
LTC/USD - Bearish BatHello traders, here we have LTC/USD with a bearish bat pattern on the 15m chart. It makes a change from posting about the 1h, 4h and daily all of the time. 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 (D leg is slightly extended) Final X to D: 0.886 This is not a chart I'm trading but more to highlight the future price direction of Litecoin, including key areas to buy. If you want more trading inspiration be sure to connect with me below :)
COINBASE:LTCUSDShort
by LewisGlasgow
6
EUR/JPY - Bearish Cypher (300+ Pips)We're looking at another cypher pattern but this time on the 1h chart with EUR/JPY, this is an excellent shorting opportunity with over 1:3 risk to reward... Don't miss out on this one! The D point forms at a major level of resistance, I'm expecting price to stall out on this level followed by an aggressive reversal. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 Feel free to connect with me below :)
Short
by LewisGlasgow
10
BTC/USD - Bullish 5-0Hello traders, following up from my three drives post for BTC/USD (chart is shown below), I'm now looking at a potential bullish 5-0 on the weekly timeframe. If the three drives pattern fails to complete, the bullish 5-0 will be the favoured outcome. 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 have drawn up this pattern before using a C point of 1.618, but it did not form until 2.24 and this is why I'm re-posting. Thank you all for your continued support! Feel free to connect with me below.
BITSTAMP:BTCUSDLong
by LewisGlasgow
4
GBP/USD - Price StructureWhat's up everyone, here we have GBP/USD on the 4h chart. 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. Price has been trading within the same area since October 2016 due to the flash crash, which created an all-time low in the market. I'll be keeping a close eye on this structure for a breakout, hopefully this will occur in the near future. Please feel free to leave your opinion below.
by LewisGlasgow
1
USD/CHF - Bullish GartleyHello traders, there are some amazing setups forming on the charts, here we have USD/CHF on the 4h chart with a bullish gartley pattern. This is an excellent opportunity with a solid 1:2 risk to reward! The D point aligns with the daily trendline, which further validates the reversal around 0.97500. 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 If you want more trading inspiration be sure to connect with me on social media :)
Long
by LewisGlasgow
10
EUR/USD - Bullish BAMMWow this is huge! Today we have EUR/USD on the 4h chart with a bullish BAMM (Bat Action Magnet Move) setup . This is a follow up from my previous post (chart is shown below), where price formed a valid inverted head and shoulders pattern. Today's setup further validates the move up, as we have a bearish bat currently completing the C to D move. 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 To add to this price is currently trading within an ascending triangle, this structure is holding really well. Once I see a clear indication that price has broken and closed above the key resistance level (inverted head and shoulders neckline) I'll be going long. 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 below :)
Long
by LewisGlasgow
30