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Lewisglasgow

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
EOS - Bearish BatHello traders, here we have EOS/USD on the 1h chart with a valid bearish 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 yet to confirm the PRZ which consists of a 2.0 AB=CD, 2.24 BC and 0.886 XA retracement as the final ratio. I'm currently paying attention to the price structure within the CD leg as a breakdown may invalidate the entire formation.
BITFINEX:EOSUSDShort
by LewisGlasgow
9
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
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
CHF/JPY - Bullish CypherHello traders, it appears CHF/JPY has formed a bullish cypher pattern on the 15m chart. This is an excellent long opportunity with a potential 1:2 risk to reward. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 As always keep your risk in check and apply sound trading knowledge to come to trading decisions. I have not yet executed this position, I will be monitoring today and analysing the minor/major timeframes. The same pattern can be found on NZD/JPY 15m chart as well. Feel free to connect with me below :)
Long
by LewisGlasgow
1
Bitcoin is King - A Comparison of Market CyclesThe million dollar question, does the cyptocurrency market solely depend on the success of bitcoin? To some extent, yes. It has the potential to cause altcoins to advance, decline or become stagnant for sustained periods of time. I believe this is down to three simple factors. 1. The overall flow of money (entering and exiting the market). The overall flow of money can be observed as markets move from depression to euphoria and back again. The cryptocurrency market capitalisation on the 7th of January 2018 was $833 billion which is the highest recorded figure to date, and right now the market is currently valued at $369 billion. In two months the market has lost almost $500 billion in value, this figure is not just based on money moving out of the market but assets devaluing in the process. 2. Investor confidence in bitcoin which either has a positive or negative impact on altcoins. The success of altcoins can depend on the current sentiment towards bitcoin. If investors are not confident in the #1 cryptocurrency, it's stagnant, they most certainly won't be buying altcoins to run it through a new cycle. I'd like to break this down using the current market cycle and previous market cycle. I have used bitcoin, ripple and ethereum for comparison since these are the top 3 cryptocurrencies. Current market cycle (2017-2018) As you can see from the chart shown above, during July 2017 and November 2017 investor confidence was high for bitcoin as price moved from $1835 to $7900. This is an overall increase of 334%. During this same period, altcoins were stagnant as investors piled into BTC. You can see as the cycle progresses for bitcoin, investor confidence is through the roof and the market becomes overextended at the psychological price level of $20,000... Money starts flowing out of BTC into various different altcoins (this relates to point 3). Investors begin to reduce their holdings and move from BTC to altcoins or BTC to fiat. Also to add to this analysis when BTC was trading at $20,000 on the 17th December it controlled 55.11% of the market. Once we entered a bullish phase for altcoins this dominance eventually dropped to 32.55% on the 4th of January. Bitcoin remained at this level of market dominance until the middle of February. Previous market cycle (2017) A similar scenario, investor confidence begins to build as BTC breaks the all time high of 2013 and creates a new high at $1352. Within two months the market breaks the all time high at $1352 and progresses towards $3,000, at this point investor confidence is through the roof and money starts flowing into the market causing a new cycle to begin for altcoins. You can see how these two cycles hold many similarities yet they are completely different in their own way. The most interesting aspect for me was seeing the market dominance correct itself, until 2017 BTC held above 74.28% for years. Although bitcoin was creating new highs throughout 2017 and covering a lot of ground, the market dominance dropped to 37.82%. Market cycles may appear to be the same but the details are always different :) 3. All major exchanges offer altcoin trading pairs quoted in BTC (more popular than trading USDT or fiat), this means bitcoin is at the core of the crypto economy. Below is a representation of a typical transaction (deposit, trade, withdraw). Fiat > Bitcoin. Bitcoin > Altcoins. Altcoins > Bitcoin. Bitcoin > Fiat. Below is a representation of the average trader (deposit, trade, withdraw). Fiat > Bitcoin. Bitcoin > Altcoins. Altcoins > Bitcoin. Bitcoin > Altcoins. Altcoins > Bitcoin. Bitcoin > Altcoins. Altcoins > Bitcoin (rinse and repeat). This is partly the reason why many altcoins follow the price of bitcoin, like we are seeing right now, the price structure for ripple and ethereum is almost identical to the movement we are seeing in bitcoin.
BITSTAMP:BTCUSD
by LewisGlasgow
14
Bitcoin - Steady Climb to the TopEveryone seems to be in a state of panic following the recent correction for bitcoin as I receive 99750798 messages (possibly exaggerating) asking for my opinion on the situation, which I don't mind as I love helping out other traders where possible. This recent move really doesn't concern me as all of the technicals on the higher timeframes still indicate the uptrend is intact. As you can see from the daily chart the support trendline which I presented in my previous analysis on market cycles is still holding, price has returned to this daily support at $8,360. As many of you know I use a logarithmic scale when analysing cryptocurrencies (just in case you are confused about the appearance of my charts). I suggest anyone who has not read my coverage on bitcoin they do so now. I'm always asked by my followers "when will we see price return to 20k?" or "when will btc moon?" This is why I've placed my prediction for $20,000 on the charts which in my opinion will occur in the last week of April going into May, as long as we stay on track, if my opinion changes I will let you all know. Never be stuck with one opinion and fail to see the errors in your own workings, I'm an open-minded trader that analyses all potential risk. There is one point I would like to correct and that is people who continually say "BTC is rising on falling volume" and there is some truth to that in comparison to previous trading years but if you look at the daily chart you can see the average volume has been increasing steadily since Jan 2017. Taking a look at the weekly chart below we can see that the average volume is quickly approaching the highest average volume during 2014, I believe we will pass this area this year when BTC creates a new all time high. The current trend in volume represents steady growth just like the volume shown on the daily chart. Below is the weekly chart showing basic price structure with the daily support trendline and the lower support trendline on the weekly. If we did see any major downside for bitcoin this is the chart I would refer to, however, I do not see this happening. To finish off this analysis here is my view on the 4h chart, we can see that price increased by 99% followed by a 21% correction, then a 26% increase creating a double top formation which caused the decline of 28% to the low of $8,360 which formed at the 1.272 projection. Price is now re-testing resistance, pay close attention to this level for short-term direction, failing to close above would indicate another move back down to the daily support trendline. That's it from me, I hope you all gained value from my analysis. Don't forget to leave a like and comment below with your opinion on Bitcoin.
BITSTAMP:BTCUSDLong
by LewisGlasgow
59
XAU/USD - Bullish ButterflyHello traders, it appears XAU/USD is now forming a bullish butterfly pattern on the 1h chart in addition to a bullish 5-0 which I posted on here at the beginning of February. You can see more on this analysis below. Two valid harmonic setups are forming in the same area, the bullish 5-0 at $1,300 and the bullish butterfly at $1,295. 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 The daily chart provides several indications going forward, price is quickly approaching the support zone where both of our harmonic setups complete, at the bottom of the zone price will meet the 200 EMA which is an additional dynamic support. The next support to follow this is most likely the lower support trendline near $1,250. I will most definitely be waiting for the next daily close before executing, the decline is extremely aggressive so wait on confirmation of a reversal. In addition to the analysis provided above, price forms a valid AB=CD formation at $1,300 with the reciprocal ratio of 0.5 which is 2.0. Stay safe, stay harmonic! Have an excellent weekend when it comes.
OANDA:XAUUSDLong
by LewisGlasgow
22
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