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Lewglasgow

XAG/USD - Bearish Shark (Continuation)Hello traders, just an update on XAG/USD with a bearish shark pattern on the 4h chart. Price has now reached the bottom trendline of the ascending channel, I'm expecting price to breakout and hit the 0.382 retracement level at 17.40000. If we see this move occur, it will more than likely be followed by a pullback to the trendline providing us with an excellent area to short. 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 Keep an eye on this going into next week, I hope you all have a great weekend!
OANDA:XAGUSDShort
by LewisGlasgow
2
The Power of Compound Interest“Compound interest is the eighth wonder of the world. He who understands it, earns it... He who doesn’t... Pays it” . The idea of compound interest is simple, use your profit to make more profit instead of spending it... You can do this whilst making small regular withdrawals! BUT Too many traders try to get-rich-quick and in turn blow their trading account. Instead of focusing on medium to long term returns and make their profits do the work. Every trader knows that it is possible to turn a small amount of capital into 6 or 7 figures if they trade patiently. However, most of them always look for a faster way to become wealthy by oversizing positions to seek out a lottery win. In fact many traders repeat this process multiple times, with the exact same end result... Blowing their account. This is why I have written this post, which is primarily aimed at all of the traders starting with a small amount of capital £1,000 or less... You need to start setting monthly % targets. Everyone wants to make a million, that's a common fact but how are you going to get there? What monthly % do you need to grow your account at and over how many years? You need to start mapping out your journey, track your progress and be measurable. The illustration shown highlights the potential growth within a 12 month period using a starting capital of £1,000, growing your account by 20% per month and withdrawing £50 every single month. If you can maintain this level of growth throughout the year, you will have withdrawn £600 and have a trading account value of £6,937. And it all started with £1,000 :) To round off this post I truly hope this explained the power of compound interest. I am available via private message for any questions you may have. Here's to your success!!!
Education
by LewisGlasgow
19
XAU/USD - Price StructureFollowing up from my prediction over 2 months ago (chart shown below), I'm almost ready to sell XAU/USD. Since predicting the bearish 5-0 price has reached $1248, therefor completing the pattern. I am now looking at additional analysis to confirm my position. If we take a look at the main chart, price has been trading within a rising wedge since December 2016, we are now showing signs of a potential breakout to continue the long term trend. I'm expecting price to break the trendline and pullback before I enter my long term short. Please feel free to leave your opinion below.
OANDA:XAUUSDShort
by LewisGlasgow
8
EUR/CAD - Bearish Bat (RSI BAMM)There are some amazing setups forming on the charts, here we have EUR/CAD on the 1h chart with a potential bearish bat pattern. Excellent opportunity with almost 1:3 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 In fact price has almost formed a "perfect" bearish bat pattern. I'm seeing strong signs of divergence, indicating an RSI BAMM setup which confirms the reversal at 1.40900. I hope you all have a great week of trading :)
Short
by LewisGlasgow
18
AUD/CAD - Bearish CypherWe're looking at another CAD pair but this time on the 4h chart with a complete bearish cypher pattern, this is an excellent shorting opportunity with over 1:2 risk to reward... Don't miss out on this one! The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 This idea was previously posted over a month ago, check it out to see how price developed. ...BUT I thought I would update everyone on the current situation. Don't forget we have the BOC rate statement at 3:00PM. I hope you all have a great week :)
Short
by LewisGlasgow
2
USD/CAD - Bearish BatHello traders, it appears USD/CAD has now completed a bearish bat pattern on the 1h chart. This is an excellent opportunity with a potential 200+ pip return! The measurements for a valid bat pattern are detailed below. B: 0.382 - 0.50 (Price closed above the 0.50 retracement but I still love the look of this setup) C: 0.382 - 0.886 D: 1.618 - 2.618 Final X to D: 0.886 If you take into the consideration the daily chart below, we have major potential for a large move now that price has pulled back to the trendline. I'm seeing strong signs of divergence on the 1h chart, indicating an RSI BAMM setup like my previous chart EUR/CAD. Don't forget we have the BOC rate statement at 3:00PM. If you want more trading inspiration be sure to connect with me below :)
Short
by LewisGlasgow
6
AUD/NZD - Bearish SharkHello traders, it appears AUD/NZD is now completing a bearish shark pattern on the 4h chart. This is an excellent opportunity with a potential 200+ pip return! 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 I'm seeing signs of divergence, confirming the reversal at 1.07200. To further validate this move I have been watching AUD/JPY for two months and it is now ready to sell (chart shown below). I hope you all have a great week of trading :)
Short
by LewisGlasgow
14
Intermarket Analysis for BeginnersWhat is Intermarket Analysis? Intermarket analysis is a relationship, or a measurable correlation between four major asset classes: stocks, bonds, commodities and currencies. The majority of forex traders assume that currency markets move in isolation from all the other capital markets... This is entirely wrong as the foreign exchange market underlies every other market in the world, thus creating a complex network of intermarket relationships which dictate the ultimate flow of capital from one market to another. Understanding these relationships can help you determine the stage of the investing cycle, select the best performing sectors and avoid the worst. It is an extremely valuable tool for long-term analysis! The relationship we are focusing today is the between USOIL and USD/CAD. Why does this relationship exist? Trends in commodities and the U.S. Dollar tend to be negatively correlated, this intermarket relationship implies that if the U.S. Dollar has been falling recently, that fact is seen as bullish for commodity prices (as shown on the chart). The price of oil and the value of the Canadian Dollar tend to be positively correlated. This relationship is due to Canada’s status as one of the world’s top oil exporters, selling roughly two million barrels of oil each day to the United States alone. Rising oil prices will therefore tend to reduce the USD/CAD exchange rate as the Canadian Dollar strengthens. You can clearly see from looking at the chart below that a long-term intermarket relationship is present, one which is negatively correlated. To round off this post I truly hope this explained the use of intermarket analysis, there are numerous relationships which you can exploit and use to benefit your own trading. I am available via private message for any questions you may have.
Education
by LewisGlasgow
10
USD/CHF - Bullish 5-0 & Reciprocal AB=CDHello traders, it appears USD/CHF is now forming a reciprocal AB=CD within the CD leg of a bullish 5-0 on the daily chart. The formation of the reciprocal AB=CD is regularly flipped in this situation, starting with A at the C point of the 5-0 pattern but I'd like to see the outcome of this setup! 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 is an excellent opportunity with a potential 400+ pip return! I hope you all have a great week :)
Long
by LewisGlasgow
8
GBP/JPY - Market DirectionToday we're taking a look at the future market direction of GBP/JPY on the daily chart. Following up from my prediction 2 months ago which resulted in an 800 pip move (chart shown below), I'm now adding to my long term view on this currency pair. I'm expecting price to continue the bullish trend and create a higher high in the market at 156.000 which will complete a bearish shark pattern (chart shown below). If you have any additional analysis feel free to leave it in the comments.
Long
by LewisGlasgow
10
NZD/USD - Price StructureHello traders, following up from my previous post on NZD/USD with a three drives pattern (shown below). I would like to highlight the price structure on the daily chart which further validates the move lower! If you check out my updates on the idea above I have explained the best areas to jump in on this long term move. We may encounter a bounce off the trendline around 0.70000. I'm still holding my position from last week with my stop loss in profit. Safe trading everyone :)
Short
by LewisGlasgow
10
Foundation of Successful TradingThe Three A's It is a known statistic that over 90% of traders fail and I covered the three main reasons why in my previous educational post (shown below). Now that you know the main reasons why traders fail, it's time to lay the foundation for successful trading. This can be structured and defined by something I call the three A's. #1: Approach Firstly, identify your personal goals and align them with your trading. This is your "preparation step" You need to define your approach, how are you going to trade the market? Use the following checklist as a guide. 1.What is your trading personality/style? 2.Identify which timeframes you will focus on. 3.How will you analyse the market? 4.Develop/follow a trading strategy. 5. Back-test, back-test and back-test. 6. Create your trading plan (including risk management rules). #2: Attitude You now know what to expect from your system. …BUT 90% of trading is psychological Your attitude and mentality towards investing is absolutely key to ensuring your success as a trader. Here are the key components. 1. Realistic expectations. 2. Paitience. 3. Discipline. 4. Commitment. 5. Focus. 6. Emotional control. #3: Application Your final step... Application. At this point, you have put in all of the groundwork and now everything needs to be put into motion. …And for most traders this is where it all goes wrong. Use the following checklist as a guide. 1. Focus on your own trading. 2. Demo before live. 3. Plan your trade, trade your plan. 4. Once consistently profitable, go live. 5. Keep your emotions in check. 6. On-going risk control. I am available via private message for any questions you may have. Here's to your success!!!
Education
by LewisGlasgow
3